Thanks ART: That last one was very intresting,
guess you looked at this one too.
sec.gov
Here is a copy of an e-mail I sent to a friend of mine.
------------------------------
HI Joel: remember The AOL unlimited usage term, well that's what they
promised..not only for AOL..but in respect to the internet.
And it's a matter of record , filed with the SEC. I'll put some
clips here for the complete report see below. I will be turning
this information over one of the attorneys involved in class
action case against AOL..I'm sure he will check it out and share
it with others..
sec.gov
<PAGE>
On October 29, 1996, the Company announced a new standard monthly
membership fee and several new pricing alternatives aimed at providing price points for a wide range of consumers. These new pricing alternatives, which will be available beginning December 1, 1996, are as follows:
* A standard monthly membership fee providing unlimited use of AOL, including the Internet, for $19.95 per month. Subscribers can also choose to prepay for two years in advance at the monthly rate of $14.95 or one year in advance at the monthly rate of $17.95.
------------------------------------------------------
WELL THERE IT IS : somewhat buried in their 10Q filed on Nov. 15. 1996.
There is more Joel a lot more, if AOL don't wind up bankrupted,
then in wont ever snow in Alaska again.
here is some more of the bottom line.
----------------------------------------------
<TABLE>
(in thousands, except per share data)
Pro Forma
Three Three months
months ended
ended 9/30/95 9/30/96
(unaudited)
<S> <C> <C>
Revenues $ 349,982 $ 197,902
Loss from operations (357,707) (10,143)
Net loss (355,251) (14,234)
Loss per share $ (3.81) $ (0.18)
</TABLE>
<PAGE>
----------------------------------------------------------
Notice the Pro-Forma, this I call cooking the books, they juggle
the loss back to 95 from a write off of expences in order to make
9/30/96 look like it showed only (.18) loss, BUT note the decrease
in Revenues from 349,982..to 197,902, this Pro Forma slight of hand
has cost a lot of share holders big bucks. Some more below.
------------------------------------------
>PART II. OTHER INFORMATION
>Item 1. Legal Proceedings
>
>In November 1996, the Company received communications from certain regulators
>concerning the Company's announced plan to change its pricing. These regulators
>have expressed concern about the Company's proposed method of implementing the
>pricing change and the adequacy of notice thereof to the Company's subscribers.
>The Company believes that its plan for transitioning its subscribers to the new
>pricing, and its contemplated notice to subscribers, are fair and reasonable.
>The Company believes that, if one or more regulators or others were to take
>action against the Company with respect to these matters, the Company would
>prevail. However, if the Company were not to prevail, a negative outcome
>with respect to such suit or suits could have a material adverse effect
>on the business of the Company.
>
----------------------------------
I'm putting in just PART OF IT, as I know how boring reading a 10Q can get.
AMERICA ONLINE, INC. AND SUBSIDIARIES
>CONSOLIDATED BALANCE SHEETS
>(Amounts in thousands, except share data)
>
>
> September 30, 1996 June 30, 1996 (Unaudited)
Stockholders' equity:
Preferred stock, $.01 par value;
5,000,000 shares authorized,
1,000 shares issued and outstanding
at September 30, 1996 and June 30, 1996 1 1
Common stock, $.01 par value,
300,000,000 shares authorized,
93,810,944 and 92,626,000 shares
issued and outstanding at September
30, 1996 and June 30, 1996,
respectively 938 926
Additional paid-in capital 539,434 519,342
Accumulated deficit (361,456) (7,767)
Total stockholders' equity 178,917 512,502
$ 538,913 $ 958,754
----------------------------------------------------------
Here the truth starts to come clear, note the Sept 30 decrease in share holders
equity...down to 178,917,000 form 512,502,000 a loss in equity per share
from JUNE to SEPT, in June equity was only $5.53 per share, BUT if that
wasn't bad enough by SEPT..equity fell to $ 1.91 as share ! AND they have the
nerve to say they are going to fix it up...now back to the spin put on by
the Pro Forma crap above. ( Double speak ) as that shifted the BIG loss per slight of hand back to 1995...but it's retracted below,
--------------------------------------------------
<PERIOD-END> SEP-30-1996
<CASH> 91,154
<SECURITIES> 11,081
<RECEIVABLES> 82,380
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 254,715
<PP&E> 157,673
<DEPRECIATION> 48,330
<TOTAL-ASSETS> 538,913
<CURRENT-LIABILITIES> 307,394
<BONDS> 0
<PREFERRED-MANDATORY> 0
<PREFERRED> 1
<COMMON> 938
<OTHER-SE> 177,978
<TOTAL-LIABILITY-AND-EQUITY> 538,913
<SALES> 349,982
<TOTAL-REVENUES> 349,982
<CGS> 188,223
<TOTAL-COSTS> 706,126
<OTHER-EXPENSES> 926
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 386
<INCOME-PRETAX> (353,689)
<INCOME-TAX> 0
<INCOME-CONTINUING> (353,689)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (353,689)
<EPS-PRIMARY> (3.80)
<EPS-DILUTED> (3.80)
</TABLE>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
--------------------------------
Now tell me do you think AOL is in hot water, hell it's beginning to look like
one of the biggest scams pulled off in the internet..
more to come. I'm just beginning this campaign.
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