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Biotech / Medical : Summit Technology (BEAM) -- Ignore unavailable to you. Want to Upgrade?

To: James Strauss who wrote (948)	7/5/1998 8:57:00 PM
From: Louis Cristiano	Read Replies (1) \| Respond to of 1386

Jim: I just took it for granted from some of the other posts that kept saying that BEAM has 100 million in cash. Am I wrong to have made that assumption? What is your take on how much cash they have.

To: James Strauss who wrote (948)	7/5/1998 9:17:00 PM
From: pappy	Read Replies (1) \| Respond to of 1386

Im not sure if this helps, but as of December 31, 1997, the Company's cash and cash equivalent balances and short and long-term investments increased to $74.1 million from $72.1 million as of December 31, 1996. Shares of LCA common stock valued at $8.1 million were included in long-term investments with total long term investments of $13,583,000.00 as of December 31, 1997. Short term and long term as of 12/31/97 were as follows: Short and long term investment securities consists of the following at December 31, 1997: FAIR VALUE ---------- At December 31, 1997 U.S. Government securities $ 983 Mortgage-backed securities 2,248 Corporate bonds 29,062 --------- Total debt securities 32,293 Equity security 8,060 --------- $ 40,353 ========= The $8.1 million relating to the LCAV shares were calculated with a basis of $1.25 on approx. 7.1 million shares. That figure has increased to approx. $24,500,000.00 as of July 2, 1998. Therefore cash and cash equivalent balances and short term and long term investments are approximately: Cash and cash equivalents: $33,720,000.00 as of 12/31/97 Cash from PPP dissolution: $35,000,000.00 as of 07/02/98 Short term investments: $26,770,000.00 Long-term (minus LCAV shares): $ 4,720,000.00 LCAV value 07/02/98: $24,500,000.00 Total Cash and Cash Equivalents incld, Short/long term Invest: $124,710,000.00 Note: These figures do not include all current assets nor total assets.