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Technology Stocks : America On-Line (AOL)
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To: Ron Porter who wrote (4529)2/7/1999 7:34:00 PM
From: Chuzzlewit  Read Replies (1) of 41369
 
I think there are a lot of rumors flying around concerning "accounting irregularities". In fact, NETA received a letter from the SEC questioning its use of "in-process R&D" write-offs, which, if accepted, means that NETA will have to restate earnings. The SEC has adopted some new rules concerning accounting for mergers and acquisitions, and is attempting to apply those rules retroactively. This is really equivalent to a change in accounting principles, but the stock seems to be moved by rumors. You should note that the SEC issue has no impact on cash flow (which has been quite strong), or on taxes.

TTFN,
CTC
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