down-leg ?? attn madmacs, page-12

re: ****green with envy**** 'When completed this transaction has the effect that Legend has now paid in cash and shares approximately $5m of the $6.5m total purchase price.'

Now what about the remaining $1.5m due to settle the deal or at a discount of $200,000 if paid for by 31/3/2004. Take what you want from the post and the accruacy of the data. The Westpac deal is a loan (overdraft) and a bankers guarantee which costs.

If you can't see the cash flow issues if they stretch too far I don't know.

Don't fool yourself these guys have gone from a market cap of 1.2m in October 2003 to 23+m now. Don't expect them to be infallible or indestructible. In many cases they can be their own worst enemy. IMO.