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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: clochard who wrote (1863)1/29/1998 11:08:00 AM
From: Cosmo Daisey  Read Replies (2) | Respond to of 18691
 
Steve,
EGGS is burning cash and their announcment noted that they will require a large infusion of cash for the next two years and expect big losses for two years. After the closing of the remaining stores they probably won't have much cash left. Where will they get the cash they need? Secondary offering would weaken the price even further.
Coz



To: clochard who wrote (1863)1/29/1998 11:52:00 AM
From: NYBellBoy  Respond to of 18691
 
Steve - Book value means very little, based upon their change in business strategy. Any leashold improvements and furniture & fixtures become almost worthless. Severance and all costs should reduce cash to $1 per share very easily.

:)

BellBoy


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