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Technology Stocks : OnSale Inc.
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To: StaggerLee who wrote (1482)7/30/1998 7:32:00 AM
From: StaggerLee  Read Replies (2) of 4903
 
Last quarter they tried to disguise the "missing inventory" and exclude it from operating results. This quarter they tried to exclude marketing costs. As a CPA, I view this as a disgrace to the accounting profession. The market would respect them a lot more if they'd simply say, "We've encountered enormous difficulty in generating profits from our business plan, and we are searching for alternative ventures (e.g., travel reservations like PTVL). We anticipate a huge restructuring charge in 1999 when we decide to write off our auction operations because we've determined it's a losing venture. Those of you looking for profits in 1999 will be seriously disappointed. By 2005 we anticipate positive cash flow from our Vacation Travel operations."
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