America On-Line: will it survive ...? Message Board

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Technology Stocks : America On-Line: will it survive ...?

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To: CLAUDE JOHNSON who wrote (3780)	7/1/1997 11:52:00 PM
From: Nasty P	of 13594

Claude, I am in a bear spread with a B/E point at 53 (at expiration). Today's advance was just insane IMO, but I think will get a little higher tomorrow before some common sense will take this thing down real hard. I am planning to purchase July 60 puts @ 1 3/4 or less. Do you wanna see earnings manipulation? Go to AOL profile, under earnings you'll see an asterisk referring to deferred subscriber acquisition costs charge. I can't believe their auditors allowed them to capitalize those costs for quite a while. You know what those costs are? These are costs of free diskettes that they were sending to you and me and everybody else (10 times). What rationale could support the capping of those expenses? How can these costs benefit them in future years? There's no way fo predicting that there will be a ny benefit from spending of these money!!! All right, enough of that already! I am just mad that a big brokerage selected them as an "unusual stock". Hell, how many companies violate GAAP and get away with that. BTW, the charge for those costs was taken in the quarter that was already f@#$ed up; so let's just dump all the charges in there. How convenient! Good luck to all AOL bears!!!

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