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

To: Jan Crawley who wrote (11219)	7/22/1998 12:38:00 PM
From: umbro	Read Replies (2) \| Respond to of 164684

Jan, the 300+M received in proceeds from the bond was in exchange for retiring the 75M bond. Essentially, a refinancing into longer dated paper. As I read the financials, so far, the burn rate (growth) has been financed out of the shareholders pocket. That's why various people are saying that the public is taking on venture capital risk with AMZN - they're speculating on an unproven business model (from an earnings/share growth point of view), and at this point, I believe, AMZN has achieved a negative shareholder equity level.