At what point do you say "this isn't working?"...
Category Everything Else
I didn't know whether to label this "Everything Else" or "Humor"... There's a local semiconductor company here called MathStar. I know nothing about them, have no ties to them, and have no axe to grind. The only reason I've heard of them is that their "earnings" showed up in a local business newsletter I get. Something about them losing $15 to $20 million last quarter on revenue of... $80,000. And then there's this story from today's news, about their top sales exec leaving (I wonder why???)...
MathStar announced last week that it will sell $25 million worth of its stock by mid-June. The stock now trades at about $1.70 per share.
The Hillsboro-headquartered company has been consuming cash at a high rate, developing a new type of programmable logic chip. As of March 31, MathStar had $6.5 million in cash on its balance sheet, enough to last through Labor Day, according to CEO and founder Doug Pihl.
MathStar moved to Hillsboro from Minnesota early in 2006. The company first sold its stock on the public market in October 2005.
MathStar has raised almost $93 million through selling stock, notes and warrants since it was founded 10 years ago. The company's total revenue during that time has been less than $1 million. However, recent contracts with a major electronics manufacturer and a major electronics distributor should bring in $2.5 million to $3 million in revenue by the end of this year, according to company statements.
Bold italics are mine...
You've been in business for 10 years, sold $93 million in stock, and have less than $1 million in revenue for that entire time??? And now you want to find somesucke... INVESTORS to put in another $25 million?
Guess there *is* one born every minute...
I didn't know whether to label this "Everything Else" or "Humor"... There's a local semiconductor company here called MathStar. I know nothing about them, have no ties to them, and have no axe to grind. The only reason I've heard of them is that their "earnings" showed up in a local business newsletter I get. Something about them losing $15 to $20 million last quarter on revenue of... $80,000. And then there's this story from today's news, about their top sales exec leaving (I wonder why???)...
MathStar announced last week that it will sell $25 million worth of its stock by mid-June. The stock now trades at about $1.70 per share.
The Hillsboro-headquartered company has been consuming cash at a high rate, developing a new type of programmable logic chip. As of March 31, MathStar had $6.5 million in cash on its balance sheet, enough to last through Labor Day, according to CEO and founder Doug Pihl.
MathStar moved to Hillsboro from Minnesota early in 2006. The company first sold its stock on the public market in October 2005.
MathStar has raised almost $93 million through selling stock, notes and warrants since it was founded 10 years ago. The company's total revenue during that time has been less than $1 million. However, recent contracts with a major electronics manufacturer and a major electronics distributor should bring in $2.5 million to $3 million in revenue by the end of this year, according to company statements.
Bold italics are mine...
You've been in business for 10 years, sold $93 million in stock, and have less than $1 million in revenue for that entire time??? And now you want to find some
Guess there *is* one born every minute...
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