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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Bill Harmond who wrote (72548)	8/7/1999 2:27:00 PM
From: Jan Crawley	Respond to of 164684

they have been retiring debt besides. The convertables are below-market rates and Amazon has $1.1 billion in cash. I consider the above one of the few competitive advantages Amzn has regarding to Amzn's F/A. The facts: Amzn went to $199 in 1/99, dropped to $89 in mid-2/99; the convertibles were issued duing the last week of 2/99 while the stock was trading around $126. There after, there were 16 days in 4/99 Amzn traded above $180. During the April cc; Amzn stated that approx. $89M (translates into 550K Amzn shares) were converted into stock.

To: Bill Harmond who wrote (72548)	8/7/1999 4:19:00 PM
From: GST	Read Replies (1) \| Respond to of 164684

William -- when the bond issue came out it was received as 'brilliant' because the stock was 'sure' to rise so fast they would be able to convert at will and never have to make an interest payment -- that was then, and this is now. They have a net interest expense that will grow as they burn cash at an increasingly rapid rate. Another bond offering will be tough given the dismal performance of this bond. In terms of their financial structure -- its really weak.