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Non-Tech : Enamelon (ENML) - Does anyone follow this? -- Ignore unavailable to you. Want to Upgrade?


To: Mark T. Heath who wrote (720)10/13/1998 10:53:00 AM
From: drakes353  Read Replies (2) | Respond to of 863
 
Mark:

Looks like they burned through $9.5 million this quarter. At that burn rate they will be broke in 6 months or so. I'd be floored if they could do a junk bond offering. A straight equity deal is also unlikely in this environment. They do look like a fine candidate to do some kind of discounted convertible preferred financing.

The stock trades at a premium to cash on hand, it's a probably a great short at these levels.

drakes353