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To: Jane4IceCream who wrote (6055)	2/7/2001 9:10:12 AM
From: allen menglin chen	Respond to of 19633

Re: MWAV << Receivables and inventories are way up >> The huge run up are due to a comparison btw Dec 2000 to Dec 99, when MWAV was still in the old biz model and had very low revenues in 1999. A more meaningful comparison would be Q4 compares to Q3 balance sheet. Inventories were up about 2.5 mil, from 6.3 mil to 8.8 mil; receivables up about 5.5 mil, increased from 6.9 mil to 12.4 mil. The 5.5 mil jumps should be addressed during CC. But I don't worry about too much since ~90% MWAV products is sent to CLS/LU, which should be fine paying their bills. The problem of relative large inventories and receivables is an old issue for MWAV throughout 2000. Hopefully management can solve it in 2001.