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  1. Technology
May 25, 1988


By CBR Staff Writer

Stanford Ovshinsky’s Energy Conversion Devices Inc, Troy, Michigan, one of those companies that’s much to erudite to bother about mundane things like making a profit – and it hasn’t, not in 24 years of being a public company – is having to face up to realities: it has secured a $3m bridging loan, but says it may need $7m more to keep it going until it can sell its stake in Ovonic Imaging Systems, which makes aircraft displays and computer imaging systems, and could bring it in up to $37m; Energy Conversion lost $18m in the year to last June and racked up another $21.7m losses for the first nine months this fiscal.

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