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Strategies & Market Trends : Low Price/Cash Ratio Value Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (489)	6/10/2001 12:11:17 AM
From: peter michaelson	Read Replies (1) \| Respond to of 1931

EZENET Annual Report CEO name very appropriate to this thread - Jay Cashmore 15.7 million shares plus about 4 million options, $40 million cash (Canadian) Looks like they intend to make acquisitions which, despite managements' apparent sophistication, is a risky business plan. Still, seems to bear some looking into. sedar.com CASH AND SHORT-TERM INVESTMENTS >>Cash and short-term investments totaled $40,452,760 at December 31,2000,compared to $170,469 as at December 31,1999.The balance as at December 31,2000,is made up of a redeemable term deposit of $7,735,000,a government of Canada bond of $15,918,102,bankers ’acceptances of $16,497,216 and a bank balance of $302,442. The significant increase in cash and short-term investments resulted from the Special Warrants financing completed on March 23,2000,which netted proceeds of $47,941,054.This was reduced by a normal course issuer bid under which 130,900 common shares were repurchased,using $595,709 in Company funds.The net change in cash flow from financing activities amounted to $47,164,080.Uses ofcash and short-term investments included the purchase of capital assets in the amount of $1,103,400 and the cash outlay relating to business acquisitions of $5,522,837 for a total of $6,678,693.The remaining net amount of $203,096 is made up of changes in non-cash working capital The Company had $40.5 million in cash reserves at the end of the year.Historically Ezenet has had either a minimal burn rate or has generated a positive operating cash flow.The Company is focused on preserving these cash reserves and employing them in the most efficient manner.The Company believes that its current cash balances will be sufficient for the foreseeable future.