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Technology Stocks : TAVA Technologies (TAVA-NASDAQ) -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (16520)	5/12/1998 11:41:00 AM
From: James Strauss	Respond to of 31646

A Stronger Balance Sheet... Not to be overlooked: Kelsall commented, ''Our balance sheet continued to improve during the quarter. Our working capital was $15,767,000 at March 31, 1998, with over $6,131,000 in cash. We closed a $4,000,000 senior credit facility, which allowed us to repay short-term debt. In addition we received $3,592,000 from the exercise of options and warrants, not including the full effect of the call of the outstanding public warrants which was completed subsequent to quarter end. Long-term debt now represents 15% of our total capitalization. Additionally, refinancing of multiple short-term debt facilities will allow us to accelerate our administrative organization, and consolidate financial and support functions of our subsidiary operations. Previously, our efforts in this area had been delayed, due to the requirements of our various credit facilities.'' Jim