IFLY - travel sales on the web pure play Message Board

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Technology Stocks : IFLY - travel sales on the web pure play

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To: Tom R. Clarksburg who wrote (2995)	12/30/1998 1:27:00 AM
From: blankmind	Read Replies (1) of 4761

Tom - please explain the following: - "Capitalized Software for $90,000" - since when is software capitalized? Especially when its' proprietary & customized for yourself? - where's the expense for the 125,000 stock options issued to the consultant in lieu of cash? Wouldn't this have been like a $300-500k expense? - EXCESS OF COST OVER FAIR VALUE OF NET ASSETS ACQUIRED.. 4,862,572 on 6/30/98 - vs. $4,812,718 on 9/30/98 ===>>> my point... you mean to tell me only $50,000 of depreciation per 1/4? or $200,000 per year? or 24 years to write down? - Sorry Tom. But if you consider the above, you'll see that the razor thin profits reported aren't set in stone. - Finally... the interim financials are unaudited. Only the year-end is audited. That's the 4Q98 - due out by 3/31/99. So if the above examples erred in making IFLY's income too high, they will have the opposite effect from the audit. - IFLY needs that web site up to justify its valuation. Period.

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