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To: H James Morris who wrote (13528)8/14/1998 10:22:00 AM
From: Oeconomicus  Read Replies (1) | Respond to of 164684
 
Buy now before its to late.

Are you being sarcastic or contrarian? From what are you quoting?



To: H James Morris who wrote (13528)8/15/1998 5:39:00 PM
From: Glenn D. Rudolph  Respond to of 164684
 
Cash is sufficiient for the next 12 months but may run out shortly thereafter causing dilutions fo the stock:

A portion of the net proceeds from the offering of the Senior Discount Notes has been used to retire approximately $75 million of existing indebtedness. The Company expects to use the remaining net proceeds for general corporate purposes, including working capital to fund anticipated operating losses, the expansion of the Company's core business, investments in new business segments and markets, including the Company's sales of music products and international expansion, and capital expenditures. The Company expects, if the opportunity arises, to use an unspecified portion of the net proceeds to acquire or invest in complementary businesses, products and technologies.

The Company believes that current cash and marketable securities balances will be sufficient to meet its anticipated cash needs for at least 12 months. However, any projections of future cash needs and cash flows are subject to substantial uncertainty. If current cash, marketable securities and cash which may be generated from operations are insufficient to satisfy the Company's liquidity requirements, the Company may seek to sell additional equity or debt securities or to obtain a line of credit. The sale of additional equity or convertible debt securities could result in additional dilution to the Company's stockholders. There can be no assurance that financing will be available in amounts or on terms acceptable to the Company, if at all. In addition, the Company will, from time to time, consider the acquisition of or investment in complementary businesses, products and technologies, which might increase the Company's liquidity requirements or cause the Company to issue additional equity or debt securities. For example, the Company recently announced the acquisitions of Junglee and PlanetAll, which together will result in the issuance of approximately 2.4 million shares of common stock and assumption of approximately 400,000 outstanding options.