Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Glenn D. Rudolph who wrote (98348)	4/2/2000 7:38:00 PM
From: GST	Read Replies (1) \| Respond to of 164684

Glenn: Is this the year of the post-IPO hangover? Pacific Gateway gets "going concern" comment BURLINGAME, Calif., April 2 (Reuters) - Communications company Pacific Gateway Exchange Inc. (NasdaqNM:PGEX - news) said it is mulling strategic and financing alternatives that could resolve a ``going concern' issue contained in the auditor's report of its financial statements. The company also said its chief financial officer resigned. The company, which provides voice, bandwidth, data and Internet services to carriers and retail customers, said its auditor's report on its financial statements includes a ``going concern explanatory note.' Company officials were not available for comment. Pacific Gateway said it exploring alternatives that include private equity investments in its Internet subsidiary Onyx and select asset sales. The company said Sandra Grey, its current chief financial officer, has resigned her position to pursue other opportunities. Caye Hursey will serve as acting chief financial officer effective April 1, according Pacific Gateway. After the market closed on Friday, the company reported audited earnings for 1999 that were lower than the previously announced preliminary financial results. Revenues were $605 million and net income was $8 million, or 41 cents per share, for 1999. It previously announced preliminary financial results for 1999 of $9.5 million, or 48 cents per share. The company said the variation reflects adjustments related to the timing of the recording of certain expenses. In connection with these adjustments, Pacific Gateway said it is revising its quarterly results for 1999. The company said it has negotiated an extension, from March 31, 2000 until May 15, on terms of its credit agreement with Deutsche Bank and Bank of America and a waiver of certain current defaults. Shares of Pacific Gateway closed at 14-11/16 on the Nasdaq on Friday, up 3/16 on the day.

To: Glenn D. Rudolph who wrote (98348)	4/2/2000 7:50:00 PM
From: GST	Read Replies (1) \| Respond to of 164684

Glenn: Japan OTC market was up 166% last year -- looks set to continue. Keep in mind, these are stocks that fell as much as 80% in the previous ten years -- ouch! Imagine what that would feel like.... biz.yahoo.com

To: Glenn D. Rudolph who wrote (98348)	4/2/2000 10:45:00 PM
From: Bill Harmond	Read Replies (2) \| Respond to of 164684

>>I am wondering what I am missing. Finally! :))

To: Glenn D. Rudolph who wrote (98348)	4/2/2000 10:52:00 PM
From: GST	Respond to of 164684

Glenn <I am wondering what I am missing> blind faith :)

To: Glenn D. Rudolph who wrote (98348)	4/2/2000 10:55:00 PM
From: Randy Ellingson	Read Replies (1) \| Respond to of 164684

Everything I read indicates only those nets "showing a sure path to profitibilty will not be "spared." The analysts have increased losses although management has stated Q4 99 was as bad as it would get. Glenn, I don't know what to say about this. I share your confusion regarding expectations for the near future results from Amazon. Something tells me the outlook will be more than incrementally clearer (for better or worse) after this quarter. I.e., if losses are indeed less than previous, that's a very good sign. Then by the Holiday Q, we'll have to see if they can achieve strong sales growth without excessive advertising. They may be alone at the top (in some sense) by then, if these retail .com failures begin (or continue?) to prove reality. It should be interesting, at least. Randy