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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 232.07-0.2%10:38 AM EST

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To: Jan Crawley who wrote (11219)7/22/1998 12:38:00 PM
From: umbro  Read Replies (2) of 164684
 
Jan, the 300+M received in proceeds from the bond was in
exchange for retiring the 75M bond. Essentially, a refinancing
into longer dated paper. As I read the financials, so far,
the burn rate (growth) has been financed out of the shareholders
pocket. That's why various people are saying that the public
is taking on venture capital risk with AMZN - they're speculating
on an unproven business model (from an earnings/share growth
point of view), and at this point, I believe, AMZN has achieved
a negative shareholder equity level.
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