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Strategies & Market Trends : Shorting stocks: Broken stocks - Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Q. who wrote (1669)	8/21/1998 11:17:00 AM
From: Yamakita	Read Replies (1) \| Respond to of 2506

Thanks for taking a look at it John. I'm not really shorting it based on the convertible--that's just one ancillary semi-tasty piece of the entire pie. But isn't $6 milion three months' worth, not five as you wrote? Their burning $6 million per quarter. I wonder if the S-3 sellers will short it. Who are Advantage and Genesee? Do you see the 0.37/share book value as relevant? I know it's hard to accurately put a book value on that thing, but their only market for it the DoD. Severe, and I mean severe, competition from the big Japanese makers (especially Hitachi), and getting more so everyday with the plunge of the yen, which has taken a 50% beating over the past three years. And who the hell would be buying in this kind of market? If only management were crooked, I believe we would have ourselves one tasty short! Nothing to suggest they are though, at least from my cursory inspection. Their product is cool looking though! Check out their website for a trippy picture of this thing.