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Strategies & Market Trends : Floorless Preferred Stock/Debenture -- Ignore unavailable to you. Want to Upgrade?

To: Puck who wrote (1263)	12/6/2000 1:19:15 PM
From: Zeev Hed	Read Replies (4) \| Respond to of 1438

As of the end of Sep they had $3.4 MM cash, but the quarter ending 9/30 saw burn rate in excess of $5.3 (their losses), you should assume that the new financing will barely be enough for two quarters. Since they have no debt rating, essentially all other financing windows will be closed to them, i still think that they may not even be brought up much here before the spiral begins. CC has done floorless before, and while not always deadly, they have done some deadly ones as well. Just be careful. Zeev