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

To: The Duke who wrote (11112)	8/22/1998 10:42:00 AM
From: Art Stone	Read Replies (1) \| Respond to of 13594

Isn't that an acknowledgement by Pittman that the Internet growth rate is going to drop off quickly? (Millions) (Annual Growth Rate) Today... 23 1999..... 30 30% 2000.... 37 23% 2001 44 18% 2002 51 15% 2003 58 13% 2004 65 12% 2005 72 11%

To: The Duke who wrote (11112)	8/25/1998 10:32:00 PM
From: Saban Kurucay	Read Replies (1) \| Respond to of 13594

The Mirabillis financial statements are online on EDGAR... As part of the "rest of earnings" AOL has filed financial information about Mirabillis for which they paid roughly $250 mils. The issue is whether the FED will let them take a one time write up, or charge against earnings for years...I am pasting some of the info below...But first, my take...To be allowed, a one time write off, the FED needs to qualify this as a R&D expense..However, as I read the statement they paid $250 mils for a company worth $2-3 mils tiop...Now I say NO WAY THE SEC will let them take $250 mils as one time write off..Most of this sum is definitely considered GOOD WILL...In trying to spin it their way the filings refers to Mirabillis as Mirabillis, an Israeli Development Stage Company... I don't know about you but I'll be damned if the SEC buys it...Any accountants out there who can probably shed some light on this...? Happy investing to you all ...and here are some numbers for Mirabillis...for the complete report go to the EDGAR web site... Mirabilis Ltd. (an Israeli Development Stage Corporation) Consolidated Balance Sheet as of March 31, 1998 (In thousands) (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 189 Accounts receivable 32 Total current assets 221 Property and equipment, net 668 Total assets $ 889 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Trade accounts payable 71 Other accrued expenses and liabilities 259 Total current liabilities 330 Other liabilities 50 Total liabilities 380 Shareholders equity Capital surplus 2,606 Deficit accumulated during development stage (2,097) Total shareholders' equity 509 Total liabilities and shareholder's equity $ 889 See accompanying notes Mirabilis Ltd. (an Israeli Development Stage Corporation) Consolidated Statements of Operations For the three months ended March 31, 1998 and 1997 (In thousands) (Unaudited) 3 months 3 months Period From ended ended July 29, 1996 ( Inception) March 31, 1998 March 31, 1997 to March 31, 1998 Revenues $ 14 $ - $ 49 Costs and expenses: Operating expenses 244 33 759 Development costs 256 50 827 General and administrative 204 14 551 Total costs and expenses 704 97 2,137 Loss from operations (690) (97) (2,088) Other income (loss), net 3 1 (6) Loss before provision for income taxes (687) (96) (2,094) Provision for income taxes (3) - (3) Net Loss $ (690) $ (96) $ (2,097) Accumulated loss at the beginning of the period (1,407) (67) - Loss for the period (690) (96) (2,097) Accumulated loss at the end of the period $ (2,097) $ (163) $ (2,097) See accompanying notes