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Technology Stocks : InfoSpace (INSP): Where GNET went! -- Ignore unavailable to you. Want to Upgrade?

To: levy who wrote (26945)	4/24/2002 9:09:55 AM
From: Mr. Jimmy	Read Replies (2) \| Respond to of 28311

Levy's back? Is this the Levy I loved to read while I was an employee of Go2Net from '98 - '01? I might have to come back to this thread more often. Wondering if the past employees might see a little of that dough? I love email!

To: levy who wrote (26945)	4/25/2002 1:13:11 AM
From: Roger Sherman	Read Replies (1) \| Respond to of 28311

The Entire 175 Week History of INSP, since IPO... All neatly summarized in a single picture (worth at least a trillion words): siliconinvestor.com Today's close or $1.25/share is EXACTLY 50% LESS than the $2.50/share (split-adjusted) that INSP closed on the day of it's IPO, held on December 15, 1998 (approx. 3 1/3 years ago). So, I guess the only good news is that if you were a buy-and-hold "long-term" investor in INSP since its IPO, you would would have ONLY LOST half your money, as of today...rather than the +/-99% some investors lost during the last two years. Levy, when a doctor is monitoring a patient in intensive-care, don't they have a secret medical "insiders" term, when the patient's graph goes like the chart above? Something like..."the patient has expired," or "the patient has kicked the bucket"... or perhaps just "flat-lined." Although, I suppose if you get out a high-powered electron microscope, you might see some teeny weeny little blips of life..which appear as pimples along the end of the graph...and if you look even closer you might see the following words written in sub-microscopic sanskrit, "Ha ha haaaaa... we still have the last of Paul Allen's GNET money," INSP's "Accumulated Deficit" now totals an amazing $1.148 billion, which is ALMOST TWICE their current "Total (gross) Assets" of $610 million (and this still includes $198 million in "intangibles," in addition to the $204 million revenue "loss" they declared in today's earning report, due to the "Cumulative Effect of Change in Accounting Principal" finally starting to kick in). Some people say that "Accumulated Deficit" is only paper losses, and doesn't mean a damn thing. In terms of what a company is REALLY worth to shareholders, and/or any potential "buyer"...Yes, it DOES mean something. And, among other things, it dramatically shows that the company has been losing money since day one...never showing a "true" (GAAP) profit...EVER. Not only that, but the quarterly "losses" reported today (even if you ignore the $203 million in new accounting "write-off" loses) of some $33,883,000 for this past quarter, says to me that INSP has to actually INCREASE their annual revenues by at least $135,532,000 per year ($33.883 million X 4 qtrs), just to "break even" "profit-wise," by GAAP standards. That's IN ADDITION to the approx. $126 million they "expect" to earn the next 12 months. In other words, INSP has to more than DOUBLE the income of their own next year "projection," just to "break even" in terms of showing any kind of "true" and REAL profit. That just ain't gonna happen, IMO...and as they say in their recent 10-K, "We may never be profitable." On a side note, I believe INSP once stated in one of their innumerable and infamous press releases that they had as a goal, "Becoming the default platform upon which wireless carriers deliver services over any network, device, or protocol." "Default Platform"...Well, following INSP's earning release today, didn't Jain say during the CC something like, "Wireless companies often send termination notices at the start of negotiations," in reference to their (new and improved?) relationship with Verizon? And doesn't Verizon represent about 10% of INSP's total revenues? Sounds like Verizon may be dumping them as their "horoscope alert" provider...Gawd Darn-It anyway! Apparently some "yahoo" had this to say today, "INSP is to Wireless, what a pair of fuzzy dice is to a 57 Chevy." That quote personally offends me very deeply. Cause heck, my very first car was a beautiful dark metallic burgundy 55 Chevy, with a souped-up 327 racing engine (which could do wheelies all the way down the entire block)...and I never EVER once had any friggin "fuzzy dice" in it. Oh well... what can you do about the kids these days? Catch ya later... Roger