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Technology Stocks : Corvis Corporation (CORV) -- Ignore unavailable to you. Want to Upgrade?

To: tech101 who wrote (1809)	11/6/2003 12:07:10 PM
From: The Ox	Read Replies (1) \| Respond to of 2772

While this isn't exactly an opposing opinion, I find it interesting that the company got 75 million in cash for selling additional stock and used up over 60 million of it in the quarter. They also didn't make it clear whether or not the 3-6 million in savings they expected from their "new employee initiatives"(my words) is included in their 30-40 million in their expected savings from their restructuring. The greatest concern I have is that they have been burning cash over the past couple of years like there's no tomorrow and it didn't slow down at all this quarter. Also, the Dorsal acquisition doesn't seem to add anything to Broadwing, yet it cost 100 million dollars. Equipment sales are expected to be around 100 or 200K going forward, so why fork over $100 Million for Dorsal except to give Huber 1) more of the shareholder's money and 2) dilute the shareholders while Huber gets even more stock because of his majority stake in Dorsal? If it looks like crap, smells like crap... Well, you get the point. What's your opinion on the above issues? I haven't had a chance to listen to the CC, so if these issue are addressed there, I find out in the next couple of days.