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Technology Stocks : XYBR - Xybernaut -- Ignore unavailable to you. Want to Upgrade?

To: FJ who wrote (223)	5/1/1998 5:57:00 PM
From: Rockhill	Respond to of 6847

The following is from yahoo--anyone have any idea what sort of financing offers they have and what dilution if any there would be? I copied and pasted this from recent press note from the company which gives indication that they have 233Mhz mode now and sounds like they have orders from large customers. Edward G. Newman, Xybernaut Corporation's Chairman and Chief Executive Officer stated: "Although not yet reflected in our year-end reported financials, we have now achieved many of our primary restructuring objectives, as well as our new pre-launch targets. During the fourth quarter, our management team and Directors established three high priority objectives, which were set firmly in place at the start of our new fiscal year: reducing our burn rate by 40%, outsourcing all of our manufacturing, and establishing a fulfillment business in line with our expectations of signing large orders from world-wide distributors for our new 233MHz Pentiumr-based Mobile Assistantr ("MA IV"). All of these efforts should lead to substantial revenue by the fourth quarter of 1998, when volume shipments of our new MA IV are expected to commence." Mr. Newman further commented: "Given enthusiastic customer and distributor reaction to working models of our new 233MHz product, we are in active negotiations internationally with industry leading distributors. Indeed, our 'top fifty' program -- securing early orders for our new Sony (SODP)-built product from a selected list of worldwide Fortune 100 companies (many of which are already customers of Xybernautr, such as NTT, AT&T, IBM, and Mercedes Benz) is right on schedule. In addition, we continue to expand our European and Japanese presence and anticipate significant future orders for our latest products, including linkAssistTM and webAssistTM." John F. Moynahan, Xybernaut's Senior Vice President and Chief Financial Officer, stated, "The Company has received several equity financing offers on favorable terms from investment banks and other sources of capital. We expect to finalize these arrangements soon in order to obtain adequate capital and to allow the Company to properly execute its business plan." Dr. Mark Bergman, who directs the Company's strategic business development commented, "The stage has now been set for a new Xybernaut. Given the initial favorable results of our restructuring efforts, I believe the outlook for future business development has never been stronger. Indeed, the anticipated new funding will provide sufficient working capital to enable the planned international launch of the MA IV, which we believe is the world's fastest and most powerful wearable computer."