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Microcap & Penny Stocks : Dominion Bridge Corp. (DBCO) -- Ignore unavailable to you. Want to Upgrade?

To: Chien Li who wrote (447)	2/18/1998 10:43:00 AM
From: Duncan	Read Replies (1) \| Respond to of 535

Chien: <<I cannot prove that Sanda's money has come in, but I am positive that over the weekend the total number of shares increased by 3.3 million shares, basing on the Vancouver Stock Exchange information.>> I don't believe that is the case. As of this morning, there is NO Sanda deal. This would be material news to DBCO and would require an immediate release. Therefore the VSE link you provided on Feb. 13th does not relate to Sanda. While I'm not familiar with VSE filings, there was some info in that filing that didn't coincide with Sanda or ECO's possible purchase of shares. I quote below. Notice the reference to the last price and trading date of December 5th, 1997. If memory serves correct, this date precedes any discussion of Sanda? And if 12/5/97 was the issuance date for these shares, we would have heard about it by now. Bottom line: I don't what the additional 3M shares means...but you may have seen it recently because of filing deadlines. Perhaps it has to do with Deere Park's recently formed entity Dominion Park? Simply don't know. FROM VANCOUVER STOCK EXCHANGE FILING: <<Capitalization Issued: 34,716,878 Authorized: 50,000,000 Escrow: Pricing Information Last Price: $1.76 Traded on: Dec 05, 1997 Change: Current Bid: Current Ask: Volume:>> <<Another possible explanation for the new shares is that they were issued to pay some one to leave.>> Very unlikely. Particularly if the issuance transpired on December 5th. Perhaps a call to DBCO's IR could solve the speculation? Also reported in a recent post: <<In addition, if we add $18 [FROM SANDA] (between 16-20) million cash infusion to the total of $35.4 million (9/31)shareholder equity, that adds up to a new current shareholder equity that passes $52 million, the minimum requirement set by BNY.>> Not exactly. Keep in mind that DBCO's shareholder equity is NOT $35.4 million. I suspect, like many on this board, that DBCO has been running at a loss since their 9/30 year end. In 1997, DBCO lost $22 million. For sake of argument--assume zero seasonality and static quo activity...now assume we're looking at shareholder's equity on January 31, 1998--if so, DBCO would have experienced another 4 (months) /12 of last year's loss...or approx. $7 million...thus reducing shareholders' equity to $28 million. I suspect we'll see lower shareholders' equity than $28 million because DBCO probably hasn't capitized on some of their Davie, etc. opportunities. As for DBCO's cash flow discussion on this Board...it's true that DBCO had $3.9 million in positive cash "provided by" operations for the year ended 9/30/97...it's first positive cash flow from operations in years...BUT DBCO's TOTAL cash flow provided (or used) in 1997 was a $17.2 million USE. Therefore, DBCO was not cash flow positive for the year. Both "investing" activities and "financing" activities sucked DBCO's cash position dry. Duncan