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Non-Tech : Ashton Technology (ASTN) -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (640)	5/4/1999 8:43:00 PM
From: mst2000	Read Replies (5) \| Respond to of 4443

Financial Resources - in addition to anticipated earnings commencing in 60 days or less, there is the $11.7 million which will be generated by calling the warrants (which it is fair to expect will happen in about 7 trading days), and the $3-6 million remaining to be put under the equity line of credit. The burn rate is approx. 4-5 million per quarter. Though hardly strong, this is clearly enough to take it at least 6 months into operational status, when earnings generated from this system will be adequate to address the burn rate, and then some. And ATG has had no problem raising equity in the past, albeit "piranha" financing (which saved the company). While other brokers may have teams of technologists, ATG has an SEC approval to implement the system which by its terms makes it very clear that the SEC will not simply permit anybody to do this without the "order" typically imposed by government regulators. That process took 2-3 years for the PHLX and ATG to accomplish. That is a real barrier to entry. As for your prior posts regarding dilution and "death spirals", other than employee stock options, almost all preferred conversions were accomplished months ago, and are already reflected within the float. And if John Blohm sold 60,000 shares, plus or minus, you might also point out that he still holds or controls at least 800,000 more. You might also note that Pasternak, the CEO of NITE, sold 450,000 shares for $33.50 in early March, which did not prevent NITE's price from tripling since then. Even corporate execs have to have money to buy their long suffering spouses gifts from time to time. The facts may help and they may hurt, but they are the facts and should be respected as such. MST