"They now say the $5.2 billion we are raising will not be enough to pay a tender offer of $14/share. The reason they give is that we will need the money to pay back the Dell debt that's coming due. However the debt doesn't come due for a year and a half."
Icahn was responding to the company's special committee saying his proposal was "lacking credibility and inconsistent."
(Read More: Carl Icahn Could Drop Out of Dell Deal)
"What I learned in Finance 101 is that bonds have an expiration date for a purpose. You don't have to pay them back until the expiration date is reached," he said.
"Additionally, when the tender offer is over, the company will have $5 (billion) in cash and will earn operating income of $3 billion, according to Dell's own consultant, BCG."
— By CNBC's Scott Wapner. Follow him on Twitter @ScottWapnerCNBC.