Auric Goldfinger's Short List Message Board

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Non-Tech : Auric Goldfinger's Short List

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To: Dale Baker who wrote (5276)	6/24/2000 8:45:00 AM
From: RockyBalboa	Read Replies (1) of 19428

I waded through the countless 144s filings to find a recent 10-Q and anntual report; edgar-online.com and however you slice it, it never has burned that amount of cash; they used 300MM in their first Q, so the most recent bond offering was vital for them. edgar-online.com The backlog in accounts payable (grew by 300MM in 1999) & accrued expenses - partly paid in the recent Q (used cash of around 240MM, altogether) makes be wondering, whether the payment is to see in connection with its bond issue...note that during that quarter the current ratio improved from a 1.38 to a modest 2.25. But how? 35% of the proceeds of the bond issue /around $680MM) have been used to reduce current liabilities. As of Dec 31th, cash & mkt. securities did not cover current liabilities so the cash infusion was quite necessary for them. edgar-online.com In the y/y comparison you see that the balance sheet as at yearend weakened in terms of current ratio... I wonder how they'll do it this yearend. ____________________ I concede that it is a big achievement to build a brand with that awareness in that short time...though some contradicted that it is easy to build an internet storefront, and a bit more difficult to create the fulfillment facilities. ... Who could buy it? One, who wants to grow revenue and, at the same time enjoys synergies on purchasing as well as delivery/fulfillment. ...

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