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 : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: Harvey Allen who wrote (42207)	4/15/2000 11:38:00 PM
From: Harvey Allen	Respond to of 74651

Here are the numbers for Put Warrants 1999/1998 and 1997/1996. Seems like my $4 to 5 billion Put back is too low. I figured the premium too high. It could end up $8 or $10 billion. -------------------------------------------------------------------------------- Six Months Ended Dec. 31 1998 1999 ------------------------------------------------------------------------------- Operations Net income $ 3,666 $ 4,627 Depreciation and amortization 356 765 Gains on sales (160) (156) Unearned revenue 2,371 2,638 Recognition of unearned revenue from prior periods (1,707) (2,618) Other current liabilities 719 61 Accounts receivable (486) (1,030) Other current assets (24) (149) ------------------------------------------------------------------------------- Net cash from operations 4,735 4,138 ------------------------------------------------------------------------------- Financing Common stock issued 614 913 Common stock repurchased (772) (4,852) Put warrant proceeds 355 472 Preferred stock dividends (14) (13) Stock option income tax benefits 1,218 2,636 ------------------------------------------------------------------------------- Net cash from (used for) financing 1,401 (844) ----------------- Six Months Ended Dec, 31 1996 1997 --------------------------------------------------------------------------------------------------------------- CASH FLOWS FROM OPERATIONS Net income $ 1,355 $ 1,796 Depreciation and amortization 306 497 Write-off of acquired in-process technologies 0 296 Unearned revenue 648 1,254 Recognition of unearned revenue from prior periods (195) (634) Other current liabilities 256 297 Accounts receivable (326) (129) Other current assets (43) (33) --------------------------------------------------------------------------------------------------------------- Net cash from operations 2,001 3,344 --------------------------------------------------------------------------------------------------------------- CASH FLOWS USED FOR FINANCING Common stock issued 314 328 Common stock repurchased (1,101) (1,596) Put warrant proceeds 77 325 Preferred stock issued 980 0 Preferred stock dividends 0 (14) Stock option income tax benefits 226 407 --------------------------------------------------------------------------------------------------------------- Net cash used for financing 496 (550)

To: Harvey Allen who wrote (42207)	4/15/2000 11:42:00 PM
From: werefrog	Read Replies (3) \| Respond to of 74651

Harvey: If MSFT misses earnings it will be bloody Here's a thought: "I always made the most money when I bought at the point of maximum pessimism." by John Templeton that is a true statement and even, my, biggest scores have been made by buying on huge downdays, but since msft still has the doj cloud hanging over it, CSCO is the better play right now. JH

To: Harvey Allen who wrote (42207)	4/16/2000 2:48:00 AM
From: Dell-icious	Read Replies (1) \| Respond to of 74651

Hello ? They can legally be insider traders. That gives them a major advantage. They knew that the settlement talks were going nowhere. They could have bought back all their puts during the spike before the talks failed and then turned around and sold puts now at the worst part of the downturn. Further, I am pretty sure the income from Puts was never counted as being part of earnings. So expenses due to buying back shares will not be counted either. It's a stock buyback and they will use their $20 BB of reserves to buy back