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Technology Stocks : shopping.com (IBUY)

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To: Arcane Lore who wrote (272)	12/20/1998 6:45:00 PM
From: afrayem onigwecher	Read Replies (1) of 435

Shopping.com says a credit lifeline is near INTERNET: Without the $100 million guarantee, the online company's cash flow will dry up. December 18, 1998 By ANDRE MOUCHARD The Orange County Register CORONA DEL MAR — Shopping.com said Thursday that it is close to landing a line of credit worth up to $100 million. But the Internet retailer also said it needs the new financing or it will run out of cash at the end of January and that it has used stock to pay for advertising, according to documents filed with the Securities and Exchange Commission. The new line of credit — which would come from Swartz Equity Partners LLC — is contingent upon Shopping.com meeting certain financial criteria, according to the documents filed with the SEC. The company didn't explain what those criteria are and company officials could not be reached for comment. The company also says it will lose about $5.1 million in the third quarter. Earlier, Shopping.com said it would post third-quarter sales of $2.2 million. Last year, when the company was in a start-up phase, it lost about $1.3 million on virtually no sales. News of the company's financial situation pushed Shopping.com stock down for the first time in about a month. The stock lost $1.56 a share to close at $12.56 Thursday. The stock has gained about 45 percent in the past week and is up 13 percent on the year. The company stock dipped as low as $1 a share earlier this year following news of losses and an SEC investigation into allegations of stock fraud. The SEC has filed charges against Shopping.com's underwriter, Irvine-based Waldron & Co. Shopping.com has also disclosed that it is under investigation by the SEC. ----------------------------------------------------------------------- #1 newspaper in Orange County, California Copyright 1998 The Orange County Register Please send comments to ocregister@link.freedom.com This paper is bad mouthing the CO. They always show the glass 1/2 empty misleading the public and it makes it seem like they have a problem with people in Orange County getting a job.................... this paper remind's me the Russian newspaper sports report on an Olympic race between America and Russia (wich the Yankee won and the Russian lost)that the Russian was no' 2 and the American was the one b4 the last .........................

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