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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 232.12

+1.6%

Dec 23 3:59 PM EST

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To: Jan Crawley who wrote (4092)	5/8/1998 5:44:00 PM
From: Gary Korn	Read Replies (2) of 164684

Confirmation today from AMZN investor relations that the face amount of the junk bond is $530MM. I gather that the note will show on the books as $326MM at first and then, as interest accrues each 6 months, the company will book that accrued interest along with an equivalently higher face amount. Thus, the first deferred interest amount of $16.3MM will get added to the note at the first 6 month payment period, increasing the face value that is shown on the books to 342.3MM. Then, at the second six month interval, deferred interest of another $17.1MM will get added to the face amount, increasing the note to $359.4MM. At the end of 5 years, or in 2003, the face amount will show as $530MM. I may have this wrong, but that is what I gathered from my conversation. Also, I'm told that complete details about the bond will be reported in an upcoming 10Q -- I gather that is the 1st quarter 10Q? Would prefer to have this information publicly available before the stock split on June 1. Gary Korn

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