Here's their balance sheet. Higher liabilities than current assets,
maxed out their line of credit, needed infusions from their
customers to produce the TNT - not what I would want to invest in:
NVIDIA CORPORATION
BALANCE SHEETS
(IN THOUSANDS, EXCEPT SHARE DATA) <TABLE> <CAPTION>
DECEMBER 31,
------------------ JANUARY 31, OCTOBER 25,
1996 1997 1998 1998
-------- -------- ------------ -----------
<S> <C> <C> <C> <C>
ASSETS ------Current assets:
Cash and cash equivalents....... $ 3,133 $ 6,551 $ 7,984 $ 12,461
Accounts receivable, less
allowances of $100, $349 and
$3,506, at December 31, 1997,
January 31, 1998 and October
25, 1998, respectively......... 1,041 12,487 15,399 35,918
Inventory....................... 63 25 521 17,193
Prepaid expenses and other
current assets................. 41 278 594 1,163
-------- -------- -------- --------
Total current assets........ 4,278 19,341 24,498 66,735
Property and equipment, net....... 1,144 5,536 5,512 9,218
Deposits and other assets......... 103 162 162 549
-------- -------- -------- --------
$ 5,525 $ 25,039 $ 30,172 $ 76,502
======== ======== ======== ========
LIABILITIES AND STOCKHOLDERS' EQUITY
-----------------------------Current liabilities:
Accounts payable................ $ 277 $ 11,572 $ 15,312 $ 46,370
Line of credit.................. -- -- -- 5,000
Accrued liabilities............. 2,872 3,245 3,266 2,963
Current portion of capital lease
obligations.................... 722 1,434 1,228 1,843
-------- -------- -------- --------
Total current liabilities... 3,871 16,251 19,806 56,176
Capital lease obligations, less
current portion.................. 617 1,891 1,756 2,032
Commitments and contingenciesStockholders' equity:
Mandatorily convertible notes... -- -- -- 11,000
Convertible preferred stock, $.001 par value; 10,000,000
shares authorized; 7,888,275 and 9,327,087 shares issued and
outstanding in 1996, 1997, January 31, 1998 and October
25, 1998; aggregate liquidation preference of $19,827 in 1997,
January 31, 1998, and October
25, 1998....................... 8 9 9 9
Common stock, $.001 par value; 200,000,000 shares authorized;
11,567,374, 14,140,585, 14,141,710 and 14,166,710
shares issued and outstanding in 1996, 1997, January 31, 1998
and October 25, 1998,
respectively................... 12 14 14 14
Additional paid-in capital...... 12,317 25,079 25,446 25,471
Deferred compensation........... -- (3,316) (3,317) (1,126)
Accumulated deficit............. (11,300) (14,889) (13,542) (17,074)
-------- -------- -------- --------
Total stockholders' equity.. 1,037 6,897 8,610 18,294
-------- -------- -------- --------
$ 5,525 $ 25,039 $ 30,172 $ 76,502
======== ======== ======== ======== |
