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

To: Glenn D. Rudolph who wrote (60126)	6/3/1999 9:19:00 AM
From: Sarmad Y. Hermiz	Read Replies (1) \| Respond to of 164684

Glenn, >> The money from the bonds was there from day one. The stock dilution was not. I see conversions in bulk only during the last three weeks. There are likely 4 million more shares to enter the float. << OK, one at a time. 1- the money was there. But it was debt with interest and need for repayment. Now no coupon, and in the assets without offsetting liabilities. The unused portion will be in treasuries generating cash flow. 2- Stock dilution was not. True. But that is to the detriment of the shareholders only. The company business plan is unaffected by share dilution. Until they need to do another secondary. Which at the current spending rate, may be real soon. But not a concern at the moment. 3-only half the conversions are done. I don't know, obviously. But I wonder if this is not an artifact of late reporting. I doubt very much that anyone converted after the stock fell below 160. So I'd say the added float you see now was from a month ago. Just the reports are showing up now. Just a guess.