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Technology Stocks : Rambus (RMBS) - Eagle or Penguin -- Ignore unavailable to you. Want to Upgrade?

To: SBHX who wrote (72605)	5/11/2001 7:15:39 PM
From: SBHX	Read Replies (2) \| Respond to of 93625

Ooops. I was wrong. RMBS actually has 92M in cash at end of Mar2001. Not 138M as I thought. biz.yahoo.com biz.yahoo.com biz.yahoo.com biz.yahoo.com In their last Q1, their total royalties is : 26M For all of 2000, their total royalties is : 32M For Q3 of 2000, their royalties revenue was :6M 1. I'm assuming 25% of 2000 royalties are DDR and SDR = 8M 2. I'm assuming 66% of Q1 (may) royalties are DDR and SDR= 17M. This gives me 25M of SDR/DDR royalties that have to be repaid. 1. If they do have to repay the royalties, that reduces their cash position to 67M. 2. If the royalties from DDR/SDR stops, their revenue should drop if we take out the SDR/DDR royalties from the 2000 revenue (which probably kicked in in the last Q anyway). This leaves them with revenue of 24M. (Guess). This is from their annual report in 2000 Cost of contract revenues.................... 12,093 Research and development.................... 11,501 Marketing, general and administrative ........ 21,140 Employee stock-related compensation expense.. 171,085 ------- Total costs and expenses.................. 215,819 If I take out the Stock Option expense, I get expenses of 44M. 44M-24M = 20M annual burn rate. Assuming legal expenses do not increase, I see 67/20M, which means they run out of cash in about 3 years, 4 months and 6 days. SbH

To: SBHX who wrote (72605)	5/11/2001 7:23:34 PM
From: Dan3	Read Replies (1) \| Respond to of 93625

Re: they still have > 100M cash --- enough to feed 40 lawyers and a handful of support engineers they have left in RMBS HQ for quite a few years. Last Year's Expenses (Before the legal fees started to Jump) Take out the amortization and Acquisition charges and you still get burn rate that wipes them out in about 9 months. Operating expenses: Product development.............. 40,624,372 Sales, general and administrative.................. 125,092,489 Amortization of intangibles...... 171,335,587 Acquisition and related charges.. 123,998,126 Impairment and other charges..... 29,482,606 ------------- Total operating expenses....... 492,855,514