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Technology Stocks : Booking Holdings (formerly Priceline)
BKNG 5,054+1.9%Nov 11 3:59 PM EST

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To: Victor Lazlo who wrote (2182)1/28/2000 5:59:00 AM
From: Sam Citron  Read Replies (2) of 2743
 
Victor,

As you know these warrant issuance charges are a non-cash item. They may, of course, dilute shareholders equity at some point in the future, but at least they do not have the corrosive effect of debt on the balance sheet.

In the meantime, my major gripe with PCLN is the utter lack of investor relations information on their web site. It contains almost no corporate information whatsoever and doesn't even provide a contact for IR, only for "customer service". Even worse, they selectively omit the vital Q&As from the streaming feed of their conference calls. Such lack of transparency which defies today's disclosure norms can raise a red flag, however I will attribute it to mere ineptitude rather than deception until I can get a clearer picture. It is most unfortunate that they choose to make our DD responsibility so difficult. I certainly hope that they change this policy before they alienate their independent intelligent non-institutional shareholder base.

As they say, in the land of the blind, the one-eyed man is king.

Good luck,
Sam
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