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To: lindend who wrote (461)	7/6/1998 8:08:00 AM
From: Q.	Read Replies (1) \| Respond to of 994

Linden, I don't know what went through mgmt's head, of course, but here's one frequent reason for procrastinating in getting funding ... the stock was falling. It is fairly common when the stock has been going down, that a CEO will delay seeking equity financing in the hope that the stock will go up again (thereby making the financing cheaper to the shareholders). Of course it often doesn't work out this way ... a stock that is going down will often continue falling, making it ever more costly to the shareholders to get the necessary financing.