From the PPOD 10Q filed 7/29/99(Under Heading "Liquidity and Capital Resources"):
"The Company anticipates that existing cash and marketable securities will be sufficient to fund the Company's operations and capital requirements for at least the next year. However, no assurance can be given that changing business circumstances will not require additional capital for reasons that are not currently anticipated or that the necessary capital will then be available to the Company on favorable terms, or at all.
From the PPOD 10-Q filed 11/4/99:
"The Company anticipates that existing cash and marketable securities may be insufficient to fund the Company's operations and capital requirements for the next year and is currently evaluating financing opportunities. There can be no assurance that capital will be available to the Company on favorable terms, or at all"
The change in yesterday's filing is thus: "will be sufficient" became "may be insufficient" to fund "the Company's operations and capital requirements for the next year."
Can yesterday's filing, no matte how recycled and regurgitated by Bloomberg, CNBC, in aftermarket Friday, be "news" to any PPOD investor?
Further, the financing issue was directly linked to PEAPOD's addition of Mr. McLane, "former vice chairman of retail giant Wal-Mart Stores, Inc., . . . who will also make a 'significant' but unspecified investment in Peapod" (from DowJones 11/4/99 release, copyright Dow Jones & Company, Inc.)
Further still, per a Rueter's Story - November 5, 1999 19:09, "In a telephone interview with Reuters on Friday, Dan Rabinowitz, chief financial officer of Peapod, said: "It is not new news for anyone who has been covering our stock that a key focus for the company is financing. We are evaluating many of the opportunities in front of us. In fact (we) just closed one recently with Drayton McLane."
Draw your own conclusions as to whether Thursday's filing is genuine Friday aftermarket "news".
Ocean Joe
This message is a general reply and is not directed specifically to Anthony@Pacific.
All other issues re: weak business model, teenagers with zits, etc, are not news either, and are already reflected in price. |
