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Technology Stocks : America On-Line: will it survive ...? -- Ignore unavailable to you. Want to Upgrade?

To: Todd Daniels who wrote (6019)	11/17/1997 9:14:00 PM
From: Investor-ex!	Read Replies (2) \| Respond to of 13594

Exactly, Who's really scamming whom? Freeloaders on AOL, or AOL on WallStreet? Incidentally, this stock has one of the oddest daily trading patterns I have ever seen. Has anyone else noticed this? It seems that whoever is trying to gid rid of this stock pushes it to some absurd level on the open on any reasonable excuse, and then spends the rest of the day unloading shares from the higher price as the stock trades down. This is not at all a healthy pattern. It is distribution and little else.

To: Todd Daniels who wrote (6019)	11/19/1997 1:19:00 PM
From: Todd Daniels	Respond to of 13594

AOL filed 10Q in record time. Among the juicy stuff is possible clue to buyer of the 4% covertible bond. See below. But first, some other interesting stuff from the 10Q: - 32% of Q1 $44m ad sales were $14.2 recognition of Tel-Save $100m paid 2/97 (Note: AOL's FY9710K filing states --"The Company recognized $24,100,000 in other revenues during the fiscal year ended June 30, 1997, pursuant to the [Tel-Save] Agreement. In the aggregate, the Company expects to recognize approximately $50 million of revenue pursuant to the Agreement during calendar year 1997" i.e. $11.7m in Q298) - Spending $600-$800 million in FY98 for infrastructure: - 2/97 class action by Bill "king of shareholder suits" Lerach accepted 9/97 for litigation by Court (after at first being dismissed, then refiled). Of greatest interest isn't possible monetary damages, but public disclosure the litigation may force. For example it goes on in detail alleging AOL practices to goose subscriber counts. download full text of original filing at: securities.stanford.edu Also, the website of Lerach's firm is amazing. Check it out: milberg.com ------------------------- In May 1996, the Company entered into a joint venture with Mitsui & Co., (Mitsui) and Nihon Keizai Shimbun, Inc. (Nikkei) to offer interactive online services in Japan. In connection with the agreement, the Company received approximately $28 million through the sale of convertible preferred stock to Mitsui. The preferred stock has an aggregate liquidation preference of approximately $28 million and accrues dividends at a rate of 4% per annum. Accrued dividends can be paid in the form of additional shares of preferred stock. During May 1998, the preferred stock, together with accrued but unpaid dividends, automatically converts into shares of common stock based on the fair market value of common stock at the time of conversion.