CDNOW - 500 Beiträge pro Seite

[Initiative2000]

Hallo,

habe in CDNOW investiert. Mehr oder weniger ein Zock, mit etwas Spielgeld.
In den Ami-Boards sind einige Hinweise auf den hohen Bekanntheitsgrad von CDNOW in Amerika.
Warum sollte sich kein Investor finden ?????? Mit solchen maroden Firmen haben doch schon einige ihr Geld verdient.

Oder ?

[Struwwelpeter]

... und einige ihr Geld verloren.

[Initiative2000]

Hallo,

Struwwelpeter sicher kann man sein Geld verlieren. Aber es ist einen Zock wert:

CDnow the most undervalued ecommerce site...

· There is hope for CDNow. You can`t tell me these people aren`t valuable. CDNow (Nasdaq: CDNW) is most undervalued e-commerce company based on users.” - Tim Miller, president of Webmergers.com
· Drkoop.com, Theglobe.com, CDNow and ShopNow and other dot-com companies are more than 50% undervalued relative to recent acquisition multiples.
· E-commerce multiples range from $19 per MUV (monthly unique visitor) for CDnow to $1,394 for eBay.
· Webmergers.com values current CDnow shares at $26.17.

Web companies such as About.com, Inc. (BOUT), drkoop.com, Inc. (KOOP), CDnow, Inc, (CDNW) and ShopNow.com, Inc. (SPNW) are more than 50% undervalued on a monthly unique visitor (MUV) basis, according to a new report from Webmergers.com. The report compares current market valuations of 40 web destinations with Internet acquisition multiples paid in the second half of 1999.

Per-unique-visitor valuations currently vary wildly, ranging from $14 for Salon.com and $19 for CDnow to more than $1,000 for Internet blue chips like America Online (AOL) Yahoo! Inc, (YHOO) and eBay Inc.(EBAY).

About Webmergers.com
Webmergers.com is the only provider of data, analysis and buyer-seller matching services for web properties. Webmergers.com`s Sellers` Registry provides brokers and sellers with a "boutique" marketplace in which to list high-quality web properties for sale. San Francisco-based Webmergers.com also publishes the Web M&A Report, a quarterly analysis of web dealmaking.

Source: http://Webmergers.com/takeovers.htm

Ciao

[Initiative2000]

Hallo,

hier der komplette Beitrag

http://www.zdii.com/industry_list.asp?mode=news&doc_id=ZE503…



Investors bet big on Drkoop.com recovery

By Larry Dignan ZDII


Shares of Drkoop.com (Nasdaq: KOOP) surged Wednesday after the company renegotiated its pricey portal pacts with America Online (NYSE: AOL) and Go.com (NYSE: GO).

In early trading, Drkoop.com was trading at 4 29/32, up 2 9/16 or 109 percent.

After the closing bell, the company said it restructured its portal deals and retained Bear Stearns to pursue strategic alternatives.

In a report, Caren Taylor, an analyst with E*Offering, said the Drkoop.com`s moves removed "an albatross from the company`s neck."

"The renegotiated agreements and extra time should help strengthen Drkoop.com`s negotiating position with respect to potential partners and/or acquirers," she said in a report. "That said, despite these positive announcements, we continue to rate the shares of KOOP a hold."

Under the new AOL deal, the online service powerhouse will convert its previous agreement, including all future cash commitments as well as warrants, into 3.5 million shares of Drkoop.com common stock. AOL now owns 10 percent of Drkoop.com.

Drkoop.com made a big splash last July when it inked a four-year, $89 million alliance with AOL. Drkoop.com, which has about four months of cash left, couldn`t pay the bills. It still owed AOL $65 million, or nearly all of Drkoop.com`s market capitalization. The AOL deal now expires April 15, 2001.

Drkoop.com said separately that it restructured its distribution pact with Go.com. Under the restructuring, Go.com will receive an undisclosed amount of cash and additional warrants to purchase shares of Drkoop.com common stock.

Investors are betting the new deals will make Drkoop.com a more appealing takeover target. Tim Miller, president of Webmergers.com, said Drkoop.com is one of the more appealing takeover targets based on monthly unique visitors.

"There is hope for CDNow and Drkoop," said Miller. You can`t tell me these people aren`t valuable." CDNow (Nasdaq: CDNW) is Miller`s most undervalued e-commerce company based on users. Drkoop.com is Miller`s second most undervalued content company.

But Drkoop.com isn`t off the critical list yet. Without a buyer or new financing, company officials said Drkoop.com will run out of cash in about five months even with the renegotiated portal deals.

Drkoop.com said it will report a first quarter loss between 80 cents a share and 82 cents a share. A First Call Corp. poll of 6 analysts predicted a loss of 52 cents a share. In addition, revenue will be much lower than expected at $4.5 million to $4.7 million.

Meanwhile, Chase H&Q, one of the underwriters for Drkoop.com`s IPO, cut the stock to a "market perform" from a "buy." Chase H&Q maintained a "buy" rating (outperform the S&P 500) as Drkoop.com plunged on cash concerns. Since Dec. 31, the S&P is up 0.56 percent. Drkoop.com is down more than 80 percent from a Dec. 31 closing price of 11 7/8.


Alles oder Nichts !!

Initiative2000

[Initiative2000]

Hallo,
im Yahoo-Board gefunden:

http://messages.yahoo.com/bbs?action=m&board=8728962&tid=cdn…

C D N O W · S N A P S H O T . . .
by: upfront_now

_/ _/ _/ AUDIENCE

· 3.5 million customers
· Daily audience of over 800,000 people
· Added 528,000 new customers in Q4 1999
· Added 300,000 new customers Jan/Feb, 2000

_/ _/ _/ FINANCIALS

· $53.1 million in Q4 of 1999 revenues
· $147.2 million for 1999 revenues
· 60% of revenue from repeat customers
· Advertising sales in Q4 UP 33% to $3.4 million

_/ _/ _/ DIGITAL DOWNLOADING

· First Music Site to sell downloadable music online
· CDNow offers both free & saleable music downloads
· Currently offering 60,000 downloadable music tracks

_/ _/ _/ STRATEGIC PARTNERS

· Exclusive & premier relationships with America Online, Netscape, Excite, MTV/VH1, CBS Cable`s TNN, CMT and country.com
· Sponsorship and promotional partnerships with AT&T Prepaid Wireless, Pizza Hut, Oldsmobile, The Gap, Oracle, United Airlines, Miller, Toshiba, General Motors, San Francisco Giants, Visa, First USA, National Lacrosse League, and many others.

_/ _/ _/ HIGHLIGHTS

· #1 vertical net e-commerce site (One of the original Internet E-tailing Pioneers)
· Unseats Amazon.com for the first time and claims Top Retailer Spot (Feb 2000)
· Named "Best Place to Buy CDs" in Yahoo! Internet life (Jan 2000)
· Named one of the "Best Sites of the Web" in Time Digital`s 1999 Online Guide
· Named "Web`s Best Music Store" by Newsweek`s e-Life Magaizine (Nov 1999)
· One of PC Magazine`s "BIG 6" Internet shopping sites
· Ranked #1 in music shopping by Top9.com
· Ranked #1 by Biz Rate (CUSTOMER Surveys)
· Ranked #1 in `Best of the Web` by ratingWonders.com
· Ranked #1 for On-site Music Resources by Gomez.com
· Ranked #1 by Open Directory Project (dmoz.org)
· Ranked #1 by Top10.com consumer guide
· Ranked #1 for Music Shopping at Hotlinks.com
· Ranked #4 in Top 10 *Best* of the Web at web100.com
· Ranked #5 in terms of overall customer experience, Holiday 1999
· Ranked #7 in Top 10 Shopping Sites by Reach (Dec MediaMetrics)
· Received Patent for Custom/Digital Technology for Creating Custom CDs

_/ _/ _/ RETAIL OFFERINGS & FEATURES

Over 500,000 music & entertainment items
· Over 650,000 high-quality MPEG & RealAudio stereo sound samples
· Daily AllStar Music news
· Cosmic Music Network
· Detailed Artist Info
· Custom CDs
· Live webcasts at cdnow.liveonline.net
· Music & Movie reviews
· Music Artist interviews
· The most advanced Classical music search and FastFind engine available online
· Movies & DVDs at movienow.com
· Music related items & gifts
· Fast Forward Points earned on every purchase
· Personalized settings at My CDnow
· Intelligent Music recommendations
· Album Advisor
· Gift Registry
· Gift Certificates
· Personalized ``Wish List``
· Music and Video Paradise just for kids... ``Kidtopia``
· Select electronic items at discount prices
· Daily Gossip with Miss Truth
· MTV CD Lounge
· Billboard and College Music Journal charts
· VH1 Music Shop
· Imports, Bonus Tracks, Remixes, Limited Editions & More
· Music Accessories
· Online Order History
· 30 years of Rolling Stone reviews


Ciao

[Initiative2000]

Hallo,
Kursverlauf letzte Woche und dieses Jahr. Die gesamte Laden kostet 115 Mill. $.

Ticker___Aktie___WKN___MCAP___Letzte Woche_____52wLOW_52wHIGH____akt.Kurs__________Dieses Jahr

CDNW_CD Now__911840_115 Mill.$___-0,94_-21,14%____3,41____23,27____3,50__-6,38_________-64,56%

Ciao

[Struwwelpeter]

Hi Initiative 2000,

vielleicht ist das ja doch ein Zock wert.
Der Kurs hat sich ja schon etwas erholt.
Wenn die irgendwann so explodieren wie KOOP hat es sich auf jeden Fall gelohnt.
Wo liegen Deine Stoppkurse?

Gruß
Struwwelpeter

[Initiative2000]

Hi Struwwelpeter,

bin vor 2 Wochen zu 4,80 Euro rein. CDNOW hat sich bei der Korrektur stabil gehalten. Mein Stoppkurs liegt bei 2 Euro.


Grüße
Initiative2000

[Initiative2000]

Hallo,

wieder ein netter Artikel: Laut Berechung der Besucher pro Monat ist CDNOW 26.17 $ wert:

http://webmergers.com/takeovers.htm


Takeover Prospects? About.com, DrKoop.com and CDNow
Top the List of Undervalued Stocks, based on Per-Visitor Multiples
A new report from Webmergers.com suggests that
undervalued sites with limited cash reservescould become the next hot acquisition targets.


Highlights

Drkoop.com, Theglobe.com, CDNow and ShopNow and other dot-com companies are more than 50% undervalued relative to recent acquisition multiples.


Content multiples range from a low of $14 per monthly unique visitor (MUV) for theglobe.com to $3,019 for America Online.


E-commerce multiples range from $19 per MUV for CDnow to $1,394 for eBay.




Report Summary

SAN FRANCISCO - April 24, 2000

Web companies such as About.com, Inc. (BOUT), drkoop.com, Inc. (KOOP), CDnow, Inc, (CDNW) and ShopNow.com, Inc. (SPNW) are more than 50% undervalued on a monthly unique visitor (MUV) basis, according to a new report from Webmergers.com. The report compares current market valuations of 40 web destinations with Internet acquisition multiples paid in the second half of 1999.

Other substantially undervalued companies on the basis of visitor multiples include Salon.com (SALN), The Globe, Inc. (TGLO), Women.com Networks (WOMN), iVillage Inc. (IVIL), Barnesandnoble.com.Inc (BNBN) and Fashionmall.com, Inc (FASH). Webmergers.com predicts that many of these undervalued properties, especially those that have limited cash reserves, will become acquisition targets in coming months.

Per-unique-visitor valuations currently vary wildly, ranging from $14 for Salon.com and $19 for CDnow to more than $1,000 for Internet blue chips like America Online (AOL) Yahoo! Inc, (YHOO) and eBay Inc.(EBAY). The premium on large and well-established Internet companies is indicative of what we might call "less flight from quality" in the marketplace; investors are fleeing these stalwarts, but at a less-rapid rate than they are abandoning second- and third-tier dot coms.

The following tables list the companies in our survey. Note the percentage in the right hand column indicates the percent to which a company is overvalued or undervalued based on 1999 acquisition multiples. A positive percentage indicates a company is undervalued. A negative percentage represents the degree to which a company is overvalued relative to past MUV multiples.

Content Companies

Company
Symbol
Monthly Unique Visitors (MUV)**
Value of each MUV 4/20/00
Stock Price 4/20/00
Expected Price Based on Past MUV Multiples***
Percent under/over valued

Salon.com SALN 2,654,000
$14.13
$3.00
$21.66
86%

DrKoop.com* KOOP 4,845,000
$16.62
$2.50
$15.35
84%

The Globe TGLO 5,581,000
$19.47
$3.56
$18.66
81%

About.com, Inc. BOUT 17,481,000
$26.00
$27.38
$107.41
75%

Women.com Networks WOMN 6,518,000
$36.56
$5.13
$14.30
64%

iVillage* IVIL 6,963,000
$51.68
$12.16
$23.99
49%

Garden.com, Inc. GDEN 1,362,000
$67.84
$5.25
$7.89
33%

Ask Jeeves ASKJ 13,179,000
$77.79
$29.38
$38.52
24%

ZDNet ZDZ 10,834,000
$87.08
$12.56
$14.71
15%

Internet.com INTM 4,485,000
$87.79
$15.75
$18.30
14%

Lycos, Inc. LCOS 35,030,000
$112.94
$36.00
$32.51
-11%

Go2Net GNET 12,111,000
$130.75
$51.75
$40.37
-28%

Looksmart.Ltd LOOK 11,194,000
$137.42
$17.50
$12.99
-35%

EarthWeb EWBX 601,000
$176.46
$10.50
$6.07
-73%

TheStreet.com* TSCM 962,000
$185.74
$7.06
$3.88
-82%

Goto.com, Inc. GOTO 6,931,000
$253.63
$35.88
$14.43
-149%

Medscape MSCP 668,000
$265.57
$3.97
$1.52
-160%

C|Net CNET 11,175,000
$288.15
$38.06
$13.47
-183%

Edgar Online, Inc. EDGR 182,000
$447.12
$6.56
$1.50
-338%

Yahoo!, Inc. YHOO 48,262,000
$1,362.01
$122.50
$9.17
-1235%

America Online AOL 45,319,000
$3,018.60
$60.00
$2.03
-2859%


* Companies running low on cash, according to published reports
** Source: PC Data
*** Source: Webmergers.com database of 74 web deals in 1999



E-commerce Companies

Company
Symbol
Monthly Unique Visitors (MUV)**
Value of each MUV 4/20/00
Stock Price 4/20/00
Expected Price Based on Past MUV Multiples***
Percent under/over valued

CD Now* CDNW 6,654,000
$18.79
$3.81
$26.17
85%

ShopNow.com* SPNW 9,423,000
$40.51
$7.50
$23.88
69%

Barnesandnoble.com.Inc BNBN 5,401,000
$48.04
$8.56
$22.99
63%

Fashionmall.com, Inc FASH 346,000
$57.58
$2.66
$5.95
55%

Beyond.com* BYND 1,423,000
$74.73
$2.94
$5.07
42%

Headhunter.net, Inc. HHNT 1,914,000
$81.86
$14.38
$22.65
37%

Egghead.com, Inc.* EGGS 1,858,000
$82.37
$4.13
$6.46
36%

Planetrx.com, Inc.* PLRX 1,876,000
$98.94
$3.56
$4.64
23%

Autobytel.com, Inc. ABTL 1,014,000
$120.15
$6.03
$6.48
7%

FogDog.com FOGD 1,191,000
$121.58
$4.00
$4.24
6%

Value America* VUSA 587,000
$152.64
$2.00
$1.69
-18%

Drugstore.com, Inc.* DCSM 1,853,000
$226.25
$8.06
$4.60
-75%

Vitaminshoppe.com, Inc.* VSHP 279,000
$255.91
$3.50
$1.76
-98%

Ticketmaster-CtySrch TMCS 6,414,000
$286.10
$21.44
$9.67
-122%

Peapod* PPOD 173,000
$295.88
$2.81
$1.23
-129%

Hotjobs.com, Ltd. HOTJ 1,119,000
$343.04
$12.11
$4.55
-166%

Eloan EELN 527,000
$353.65
$4.44
$1.62
-174%

eToys* ETYS 1,963,000
$368.62
$6.00
$2.10
-186%

Amazon.com AMZN 17,243,000
$1,061.59
$52.38
$6.36
-723%

eBay EBAY 14,035,000
$1,393.84
$150.25
$13.91
-980%


* Companies running low on cash, according to published reports
** Source: PC Data
*** Source: Webmergers.com database of 74 web deals in 1999

MUV As a Tool

Webmergers.com recommends that investors use MUV multiples in combination with multiple other indices to evaluate Internet companies. MUV multiples are particularly useful in the absence of solid discounted cash flow or mature revenue metrics.

MUV can help estimate the potential for a web property to create value. The ability to attract unique visitors is an important determinant of a site`s organic appeal, just as circulation figures are an indicator of a periodical`s draw. Also, MUV is a measure that applies relatively well across both e-commerce and content sites and, perhaps most importantly, it is a simple and easily obtainable number.

In addition to MUV, investors should pay attention to a site`s ability to retain visitors (also known as site "stickiness"), to induce visitors to return a second time and in the case of e-commerce sites, to convert visitors to buyers at ever-increasing average sale amounts.

To obtain the above rankings, Webmergers.com used 1999 MUV acquisition multiples to impute the current expected price per share of 20 content and 20 e-commerce destinations. Researchers then divided the expected price by the stock`s recent price to get a relative valuation measure. MUV data came from PC Data and reflected March, 2000 visitors.

The proper way to use MUV calculations is as a relative measure of value. It is important to point out that many of the acquisitions that form the basis for MUV multiples were done with all or mostly stock in the second half of 1999. The stock used as total or partial currency in those deals may itself have been somewhat overvalued at the time.

About Webmergers.com
Webmergers.com is the only provider of data, analysis and buyer-seller matching services for web properties. Webmergers.com`s Sellers` Registry provides brokers and sellers with a "boutique" marketplace in which to list high-quality web properties for sale. San Francisco-based Webmergers.com also publishes the Web M&A Report, a quarterly analysis of web dealmaking.




Das müsste in Amerika für steigende Kurse sorgen



Ciao

[Initiative2000]

Hallo,

http://www.thestandard.com/article/display/0,1151,14477-1,00…


April 25, 2000, 02:12 PM PST

Bargain-Basement Net Stocks

A new study lists 20 sites whose low market valuations and high traffic make them look like targets.

By Mark A. Mowrey

Webmergers.com, a company that tracks Net mergers and acquisitions, released a list today of 10 online content companies and 10 e-commerce companies that are ripe for the taking – over, that is.

Using a ratio of current value to unique monthly visitors, Webmergers.com found that the 20 sites are well positioned to be absorbed by firms seeking to co-opt their visitor bases.


Webmergers.com looked at a group of Internet deals that took place during the second half of 1999 and divided the dollars paid for the target companies by the number of those companies` monthly unique visitors, or MUVs. The figures were supplied by PC Data. In theory, the multiples that resulted can be applied to the current visitor figures for other publicly traded companies. This would determine how close the target companies` valuations are to the valuations supported by M&A activity during the second half of 1999.


The study revealed that acquirers paid more for such companies last year than the amount at which the public markets are currently valuing them.


At content sites, for example, revenues usually come from advertising, and the rates the sites charge usually are based on the number of unique visitors. More visitors equals more views equals more revenues, an equation that should translate into higher market values for companies with higher MUVs.


Relating current valuations of publicly traded companies to past-acquisition multiples is common in capital markets, but this practice could be misleading in the Internet world. And placing too much emphasis on any one variable when assessing the potential takeover is risky. In the Net sector in particular, relative operational and financial variables mean little in relation to actual company valuations.


Public values for Net companies have plummeted from their lofty highs just months ago but not to the same extent. Webmergers.com says current MUV multiples range from $14 for Salon.com (SALN) and $19 for CDnow (CDNW) to more than $1,000 for Net powerhouses such as America Online (AOL) , Yahoo and eBay (EBAY) . With such broad spreads among MUV values, one might argue that less emphasis should be put on the metric than on more fundamental and quantitative variables, such as gross margins and longer-term growth potential, or on such qualitative variables as customer satisfaction and brand strength.


With e-commerce companies, two other metrics are more telling when comparing current values in the various online retail sectors. The first is a Net retailer`s ability to turn visitors into buyers (the "customer conversion rate"), and the second is the average number of dollars spent by customers on a monthly basis.

Among the companies that Webmergers.com found to be valuable to potential acquirers are once high-flying brands such as The Globe, iVillage (IVIL) and Ask Jeeves (ASKJ) on the content side, and Beyond.com (BYND) and Egghead.com (EGGS) on the e-commerce side. Communities such as The Globe and iVillage have vast user groups to which a new owner could be the sole provider of certain services.

The possibilities for cash-cow combinations are vast. Ask Jeeves` much-touted search-engine technology, for example, is an asset that any e-commerce consulting company could leverage to uniquely serve its clients. Or Beyond.com and Egghead.com, given the comparable size of category-killer Amazon.com (AMZN) , might best serve their existing stockholders by combining their companies – and buyer bases – to compete more effectively against the Seattle Stallion that is Amazon.


Low relative MUV valuations aside, most of the companies on the Webmergers.com lists are at low market caps because of flawed business models. Some are racked with cash-flow concerns (DrKoop.com and CDnow), and others are competing in saturated spaces against formidable competitors (Barnesandnoble.com and FogDog.com). Nevertheless, the growing interest in comparing Net companies by virtue of relative financial and operational metrics such as price per MUV and average revenue per customer per month just might start injecting a badly needed dose of common sense into to the fanatical world of Net stock valuations.






--------------------------------------------------------------------------------


10 MOST UNDERVALUED CONTENT COMPANIES

Stock Price on April 20 Expected price
based on past MUV multiples Percent undervalued
Salon.com
$3.00 $21.66
86%

DrKoop.com* $2.50 $15.35 84%
The Globe $3.56 $18.66 81%
About.com $27.38 $107.41 75%
Women.com $5.13 $14.30 64%
iVillage* $12.16 $23.99 49%
Garden.com* $5.25 $7.89 33%
Ask Jeeves $29.38 $38.52 24%
ZDNet $12.56 $14.71 15%
Internet.com $15.75 $18.30 14%
* Companies running low on cash, according to published reports
Source: Webmergers.com




--------------------------------------------------------------------------------



10 MOST UNDERVALUED E-COMMERCE COMPANIES

Stock Price on April 20 Expected price
based on past MUV multiples Percent undervalued
CDNow* $3.81 $26.17 85%
ShopNow.com* $7.50 $23.88 69%
Barnesandnoble.com $8.56 $22.99 63%
Fashionmall.com $2.66 $5.95 55%
Beyond.com* $2.94 $5.07 42%
Headhunter.net $14.38 $22.65 37%
Egghead.com* $4.13 $6.46 36%
PlanetRx.com* $3.56 $4.64 23%
Autobytel.com* $6.03 $6.48 7%
FogDog.com $4.00 $4.24 6%



Ciao

[Wutzwutzle]

Zum Nachdenken:
mir scheint es etwas gefaehrlich zu sein, Acquisitionen als Grundlage fuer die Bewertung zu nehmen, die in H2 1999 waren, also in einer Zeit, als E-commerce und Internet boomten. Ich glaube nicht, dass Investoren immernoch bereit sind, die damals gezahlten Betraege zu bezahlen, nachdem der Internetboom doch etwas gebremst wurde.

[Struwwelpeter]

Das Umsatzwachstum ist ja da, nur leider sind die Verluste mitgewachsen.
Umsatz in 1999 verdreifacht, Verlust auch verdreifacht.
Alles in allem ist CDNW aber trotzdem kein Umsatzriese.
Gefährlich sind auch die niedrigen Eintrittsbarrieren in diesem Sektor, sprich die mörderische Konkurrenz.
Die Frage lautet ob und wenn ja, wann Gewinne erwirtschaftet werden.
Wenn bei jedem Dollar Umsatz ein Dollar Verlust erwirtschaftet wird,
stellt sich schon die Frage nach der Wirtschaftlichkeit.
Unabhängig vom Bekanntheitsgrad der Firma oder der Bewertung pro MUV.
Diese Firmen sind bei der letzten Korrektur allesamt ziemlich unter die Räder gekommen.
Das CDNW allerdings wieder von der Bildfläche verschwindet, glaube ich allerdings auch nicht. Von daher vielleicht eine gute Einstiegsmöglichkeit.

Die Aufstellung ist nicht besonders übersichtlich, hier der Link.
http://www.sec.gov/Archives/edgar/data/1078887/0001078887-00…





Year Ended December 31,

1999 1998 1997 1996 1995
---------------- ---------------- ---------------- ---------------- ----------------
<S> <C> <C> <C> <C> <C>
Statement of Operations Data:

Net sales............................ $ 147,189,405 $ 56,394,606 $ 17,372,795 $ 6,300,294 $ 2,176,474
Cost of sales........................ 118,037,621 45,250,328 13,847,773 5,074,087 1,815,672
---------------- ---------------- ---------------- ---------------- ----------------
Gross profit......................... 29,151,784 11,144,278 3,525,022 1,226,207 360,802
Operating expenses:
Operating and development............ 23,421,062 8,000,023 2,541,434 669,280 149,982
Sales and marketing................ 89,734,790 44,572,304 9,607,603 765,156 229,912
General and administrative........... 11,736,503 4,244,194 1,953,078 563,593 180,573
Amortization of goodwill and other
intangibles ..................... 25,786,261 202,801 -- -- --
Dispute settlement................... -- -- -- 1,024,030 --
---------------- ---------------- ---------------- ---------------- ----------------
Total operating expenses............. 150,678,616 57,019,322 14,102,115 3,022,059 560,467
---------------- ---------------- ---------------- ---------------- ----------------
Operating loss....................... (121,526,832) (45,875,044) (10,577,093) (1,795,852) (199,665)
Interest income (expense), net....... 2,297,807 2,106,123 (170,312) (14,556) (1,248)
---------------- ---------------- ---------------- ---------------- ----------------
Net loss............................. (119,229,025) (43,768,921) (10,747,405) (1,810,408) (200,913)
Accretion of preferred stock to
redemption value................ -- (115,542) (410,103) -- --
---------------- ---------------- ---------------- ---------------- ----------------
Net loss applicable to common
shareholders.................... $ (119,229,025) $ (43,884,463) $ (11,157,508) $ (1,810,408) $ (200,913)
================ ================ ================ ================ ================
Net loss per common share............ $ (4.32) $ (2.79) $ (1.42) $ (0.29) $ (0.03)
================ ================ ================ ================ ================
Weighted average number of common
shares outstanding.............. 27,618,917 15,712,857 7,845,684 6,139,072 6,000,000
================ ================ ================ ================ ================

<CAPTION>
1999 1998 1997 1996 1995
Balance Sheet Data: ---------------- ---------------- ---------------- ---------------- ----------------
<S> <C> <C> <C> <C> <C>
Cash and cash equivalents............ $ 20,612,706 $ 49,041,370 $ 10,686,001 $ 775,865 $ 43,812
Working capital (deficit)............ (37,152,771) 42,408,170 (1,218,005) 231,455 (235,478)
Total assets......................... 118,801,757 69,043,043 16,448,425 1,575,459 268,468
Long-term debt, excluding current
portion......................... 2,629,359 1,750,892 962,144 91,133 9,519
Redeemable convertible preferred
stock........................... -- -- 9,492,594 -- --
Total shareholders` equity (deficit). 44,765,289 51,138,937 (9,752,450) 514,017 (99,362)
</TABLE>



Gruß
Struwwelpeter

[Initiative2000]

Hallo,

aus Yahoo:
http://biz.yahoo.com/wi/000428/6732.html

....
As I said yesterday, I am working hard on a piece of research for institutional clients about business-to-consumer e-commerce. I have identified six e-businesses (readers sent me a seventh) that have established market positions and sound balance sheets that are trading for not much more than their net cash. Throw in tax-loss carry-forwards, and some of these could make valuable acquisitions for traditional businesses. Quietly, merger & acquisition activity is picking up in the sector.

I can`t bring myself to call them ``The Magnificent Seven.`` Let`s call them ``The (Maybe) Adequate, Good Chance of Survival, Possible Take-out Seven``: Ashford.com (Nasdaq:ASFD - news), Autobytel.com (Nasdaq:ABTL - news), CDNow(Nasdaq:CDNW - news), Fogdog.com (Nasdaq:FOGD - news), Garden.com (Nasdaq:GDEN - news), TheKnot.com (Nasdaq:KNOT - news), and TheStreet.com (Nasdaq:TSCM - news).

For the brave only, and only those who confirm my analysis with their own.

David H. Smith is managing director of Grayling Management. Grayling manages hedge funds and private accounts, and performs customized research for institutional clients. Smith specializes in Asian and emerging market equities. His column analyzes global economic and corporate events that happened overnight, and tells investors how those events affect their portfolios. Smith has clients with positions in Macronix, Ashford.com and Garden.com.



Ciao Initiative2000

[Initiative2000]

Hallo,

die Quartalszahlen erscheinen am Dienstag nach Börsenschluß !!!

http://www.streetiq.com/cgi-bin/whisper.cgi

CDnow Inc. CDNW

Exchange: Nasdaq

Whisper Number
-$0.94

Analysts Estimate
-$1.01

Earnings Report Date
05/02



Ciao Initiative2000

[Initiative2000]

Hallo,

http://www.phillynews.com/daily_news/2000/May/01/business/PH…


ICG co-founder Fox cited as a Net leader

Daily News Staff Report

Internet Capital Group continues to help put the Philadelphia region on the Internet map.

ICG co-founder Ken Fox was recently named one of the 21 most influential leaders in the Internet economy by The Industry Standard, a high-tech magazine.

Fox, 29, co-founded ICG with Walter Buckley. Both previously worked at Safeguard Scientifics.

Fox, who now works out of ICG`s Silicon Valley office, told the magazine his business acumen dates to his childhood.

In fifth grade, he started reading The Wall Street Journal. By ninth grade he used money made shoveling snow to buy a snowblower.

"Every time it snowed in Philly, I made several grand," Fox told the Standard.

Another business executive with Philadelphia connections also made the list: Frank Quattrone, managing director of investment bank Credit Suisse First Boston, is the son of a South Philadelphia garment worker.



Not everyone is quick to herald the end of Fort Washington-based music retailer CDnow, despite that company`s failed merger with Columbia House and evaporating supply of cash. Cyber Dialogue, a market research firm in New York, says the company still has a strong position in a competitive market.

"What many analysts and investors are overlooking in proclaiming the death of CDnow are the very tangible assets the company holds," said Peter Clemente, vice president of Cyber Dialogue. He wrote about the company on Cyber Dialogue`s Web site, www.cyberdialogue.com.

Among those assets, visitors to CDnow spend well: $190 on the site per year, compared to $146 spent by visitors to other on-line music sites. And the company attracts 60 percent of on-line music shoppers - another enviable statistic. "Even at its current low stock price, the company remains rich in customer relationship currency," Clemente said.


Speaking of on-line music: A U.S. federal court ruled on Friday that MP3.com Inc. violated copyright law with the creation of a database in which users can effectively store music and then access it via any computer connected to the Internet.

The ruling, which sent the company`s shares plummeting to a record low, stemmed from a lawsuit filed in January by the world`s largest record labels, which said that the database of more than 80,000 albums - part of the on-line music downloading company`s my.mp3.com service - infringed their copyrights.

And speaking of Internet Capital Group: InvestorForce.com, an ICG-backed company, named Robert Hull to the newly created posts of chief financial and chief operating officer.

Hull was chief financial officer and an executive vice president at Marvel Enterprises Inc. InvestorForce, formerly Plan Sponsor Exchange Inc., provides content, research in the institutional asset management industry

Ciao

[Initiative2000]

Hi,

bei diesen Quartalszahlen bin ich bei 4,50 raus. War wohl nichts. Behalte die Aktie aber auf der Watchlist.

Bei Neuigkeiten informiere ich euch.

Ciao

[Struwwelpeter]

Hi I2000,

die Aktie geht nicht kaputt. Du bist zu früh`raus. Die Aktie hat gedreht, die haben einen neuen Geldgeber.

Gruß
Struwwelpeter

[Initiative2000]

Hi Struwwelpeter,

so ist das im Leben. Diese Nachricht habe ich eben auch gelesen.

http://62.26.5.211/frameset.asp?detail.asp?BeitragNr=12409&R…


Milliardär beteiligt sich an CD Now


Ein mexikanischer Milliardär namens Carlos Slim Helu hat sich mit 9,2% an der kurz vor dem Bankrott stehenden Internetfirma CD Now (CDNW) beteiligt. Slim hat 3,3 Mio. Aktien von CD Now gekauft, nachdem er schon im März ankündigte, ein Investment in diesem Bereich zu suchen.

Die Aktien von CD Now reagierten natürlich positiv und können 0,1$ auf knapp 4$ zulegen.


Ciao

[Initiative2000]

Hi,

hier die Meldung auf CBS

http://cbs.marketwatch.com/archive/20000505/news/current/cdn…



WASHINGTON (CBSMW) – Mexican investment group Grupo Carso, headed by billionaire Carlos Slim Helu, disclosed on Friday that it seeks to acquire more shares of fledging e-tailer CDNow --a move that may involve taking a significant majority stake.


Grupo Carso said it is “currently engaged in discussions with CDNow regarding a possible additional investment in the company although neither the amount, form or timing of such an additional investment has been determined,” according to a Schedule 13D filed with the Securities and Exchange Commission.

The investment fund, which has spent $52 million over the past year to purchase 3.025 million shares of CDNow, also said it may explore entering into “corporate transactions involving the company.”

Fort Washington, Pa.-based CDNow (CDNW: news, msgs), which posted less-than-stellar first quarter earnings, retained financial adviser Allen & Co. in March to help it land a merger partner or investor after its proposed merger with Columbia House was terminated. see related news

Marlo Zoda, CDNow`s director of corporate communications, told CBSMarketwatch in an interview that the company has "held discussions with a number of parties including Grupo Carso regarding a merger or investment and we plan to continue those discussions."

In Friday’s SEC filing, Grupo Carso said it had boosted its stake in CDNow to 9.2 percent, up from the 6.7 percent stake it disclosed last May. see SEC filing

Shares of CDNow, which have skidded about 61 percent so far this year, were up 3/16 to 4 1/16 in recent trading.

Ciao

[Struwwelpeter]

4 3/4 + 22%

Und nun?

kaufen, halten , verkaufen???

Das ist ja schön mit dem Milliadär, aber die Firma sollte doch auch irgendwann mal zukünftig Geld verdienen. Ansonsten ist der Milliadär sein Geld bald los.

Gruß
Struwwelpeter

[Initiative2000]

Hi,

hier das sehr informative SEC FILING:

http://primezone.finsys.com/edgar_conv_html%5C2000%5C05%5C05…

Struwwelpeter,
Die schlechten Quartalszahlen,waren eben für mich der Grund auszusteigen,CDNOW haben mit Ihrem Konzept zu hohe Kosten. Mir ging es nicht darum die Aktie langfristig zu halten, sondern lediglich kurzfristig, mit dem (verpassten, ich dachte es wäre vor den Zahlen)unbekannten Aufkäufer, Gewinne zu erzielen. Vielleicht erfahren wir dieses Wochenende noch weiteres.

Ciao

[Struwwelpeter]

Hi,

als langfristige Anlage sollten dann wohl noch ein paar mehr Milliadäre auftauchen.

Aber so als kurzfristiger Zock, was sagt das Gefühl?

[Initiative2000]

Hi,

schön das wir 2 die einzigen sind, die sich für CDNOW interessieren. Es gibt folgenden Grund wieder zu zocken:

Warum sollte jemand durchschnittlich $3.83 to $8.27 ( Aussage Slim)für die Aktie bezahlen und zusehen wie sein Kapital dann den Bach runtergeht ???
Das wären bei dem momentanem Kurs ca. 13 Mill. $ die diese Investoren einsetzen. Die besitzen mehr Aktien als der Boss Olim.


Ciao

[Struwwelpeter]

Hi,

für die Schnäppchen bzw. gute Tradingchancen interessiert sich hier sowieso niemand. Das braucht Dich nicht wundern.
Ich denke mal ganz einfach, daß der Markenname schon einiges an Wert hat. Die sind drüben wirklich bekannt. Von daher denke ich nicht, daß sie untergehen. Ganz lapidar: Die Website ist ja auch nicht schlecht.
Mir gefällt sie.
Die Frage der Fragen , auch für den Sponsor, wird sein:
Wird sich das Ding irgendwann mal rechnen.
Ich kann es nicht beantworten.
Für den Kurs bin ich aber bis auf weiteres bullish.

Wenn`s Montag runter geht, gehe ich rein.
Aber nur wennig.

Ciao
Struwwelpeter

[Initiative2000]

Hi,
Sorry der gute Mann hat $52,8 Millionen und $17.43 pro Aktie bezahlt.

http://www.internetnews.com/bus-news/article/0,2171,3_105632…Mexican Billionaire Buys 9.2 Percent Stake in CDNow



Mexican billionaire Carlos Slim Helu has bought a 9.2 percent stake in the troubled online music retailer CDNow Inc. for $52.8 million, a filing with the U.S. Securities and Exchange Commission showed on Friday.

Slim, one of the richest men in Latin America, bought 3.03 million shares in the loss-making, cash-tight company, which announced in March that it was looking for an investment or a merger partner after a proposed merger with Columbia House fell through.

Slim paid an average of $17.43 per share for his stake. In his most recent purchases, he bought 50,000 shares over the last two months at prices between $3.83 and $8.27 per share, according to the filing.

CDNow shares were up 5/16 to 4-3/16 in morning trade on the Nasdaq stock market, more than 80 percent below their 52-week high of 23-1/4.

CDNow, based in Fort Washington, Pa., posted a loss of $28.2 million, or 92 cents per share, excluding special items, during the first quarter of 2000.

Earlier this week the company said it had enough cash to last through the second quarter. President and Chief Executive Jason Olim said that "we are optimistic and expecting to be able to enter into an investment or merger agreement by the end of the second quarter."

The SEC filing said Slim was "engaged in discussions with (CDNow) regarding a possible additional investment, although neither the amount, form or timing of such additional investment has been determined." "



Ciao

[Struwwelpeter]

Das scheint ein echter Fan zu sein.

[Initiative2000]

Hi,


http://www.streetadvisor.com/Article/Article.asp?aid=2677




Anyone Want a Used CDNow?
Scott Greenberg
May 3 2000
Yesterday, CDNow [CDNW] reported its fiscal first quarter earnings, along with a new strategy going forward. The company is still looking for a merger deal, which is the key to this stock. It has received more than two dozen inquiries, but CDNow needs to do a deal—and soon. This stock continues to be a high-risk/high-reward investment, but because of the company’s strong metrics, we feel potential upside is still there and continue to rate CDNow a buy.

Despite plans to reduce costs significantly going forward, the company has enough cash to last only a little over another quarter. But although CDNow expects to close a deal by then, there is a small ray of hope if it doesn`t: the company has secured an additional $10m in funding if needed. The down side to this is that it would add to the company’s debt. Currently CDNow has about $28m in debt, which only adds to the price a prospective buyer would have to pay.

In a move to conserve cash and move toward profitability, CDNow has developed a three-fold initiative.

It will cut operating costs by a third, reducing its burn rate by $12m per quarter. This will also lead to a much lower customer acquisition rate. Previously, it took CDNow $38 to acquire a new customer, which meant it was three years before CDNow earned back its investment. The company plans to decrease this cost to less than $20, which translates to a payback period of only a year. Although this will lead to slower growth, the overall result will be positive.

It will leverage its 3.7m unique customers into increased advertising revenues. Advertising has historically been a small percentage of CDNow’s total revenues, but its latest quarter resulted in $3m in revenues, or 7 percent of total sales. We expect this growth to continue because uncertainty from the Columbia House deal slowed potential advertisers from utilizing CDNow’s site. In addition, the company has signed up a host of new advertisers, including Dell [DELL], Bid.com [BIDS], Oracle [ORCL], and Victoria’s Secret [IBI].

It plans to increase the lifetime value it receives from each customer by increasing the number and scope of its products and technologies.


Gruß

[Initiative2000]

Hi,


Wer weiß genaueres ????????



http://messages.yahoo.com/bbs?.mm=FN&action=m&board=8728962&…


CDNW DELISTING SOON?
by: delver_2001 5/7/00 5:46 am
Msg: 95137 of 95143
The stock is OFIS

SEC 10Q 12 Dec 99

Nasdaq has informed the Company that because its common stock traded below $5.00 per share for more than 30 consecutive trading days, the Company was not maintaining the minimum bid price requirement for continued quotation on the Nasdaq National Market System. Nasdaq also has stated that if, prior to December 8, 1999, the Company was not in compliance with this requirement for 10 consecutive trading days, the Company`s stock would be delisted at the opening of business on December 10, 1999. The Company will not be in compliance with the minimum bid requirement prior to December 8, 1999. In an
effort to maintain its listing, the Company has requested a hearing before the Nasdaq Listing U.S. Qualifications Panel (the "Panel"). Under Nasdaq`s procedures, the Company`s common stock will continue to trade on Nasdaq
pending the outcome of that hearing. Management is exploring its options while the hearing is pending and, while the Board of Directors has authorized management to prepare for a reverse split, management is also actively considering moving to another market or exchange. The Company has not made a final decision on what action it will take, and there can be no assurance as to whether any such action will be successful. If the Company`s common stock were ultimately to be delisted, the delisting would likely adversely affect he stock`s market price and liquidity of trading.

SEC 10Q 7 Mar 00

In December 1999, Nasdaq informed the Company that because its common stock had traded below $5.00 per share for more than 30 consecutive trading days, the Company was not maintaining the minimum bid price requirement for continued
quotation on the Nasdaq National Market System. Nasdaq also stated that if, prior to December 8, 1999, the Company was not in compliance with this requirement for 10 consecutive trading days, the Company`s stock would be delisted at the opening of business on December 10, 1999. The Company was not in compliance with the minimum bid requirement prior to December 8, 1999. In an effort to maintain its listing, the Company appealed the decision to remove the
Company from the Nasdaq National Market before the Nasdaq Listing U.S. Qualifications Panel (the "Panel"). In February 2000, the Panel granted the Company a 90-day exemption from the minimum bid requirement, through the beginning of May 2000. Management continues to explore its options during the exemption period in the event that the Company does not regain compliance with
the National Market System listing requirements. These options include seeking further exemptive relief from Nasdaq, transferring to a different exchange (such as the Nasdaq Small Cap Market), or completing a reverse stock split in an effort to increase the minimum bid price for the Company`s common stock to more than $5.00 per share. The Company has not made a final decision on what action it will take, and there can be no assurance as to whether any such action will
be successful. If the Company`s common stock were ultimately to be delisted, the delisting would likely adversely affect the stock`s market price and liquidity of trading.

[Struwwelpeter]

Hi I2000,

ich warte dann doch noch ein paar Tage ab.
Das wird ja immer wilder.
Sollten die wirklich rausfliegen, dann gute Nacht.


Wo ist der Milliadär?
Der muß doch den Kurs stützen!


Gruß
Struwwelpeter

[Initiative2000]

@Struwwelpeter,

wahrscheinlich hast du das auch gelesen.

http://62.26.5.211/news/news_detail.asp?NewsNr=14511
CDNow intraday +108%
Nach der Nachricht, dass man bei CDNow Inc. (NasdaqNM:CDNW, WKN: 911840) offenbar einen neuen Partner im Boot hat, kennt die Aktie kein Halten mehr.
Dabei half es an diesem Tag auch wenig, dass Anthony Noto, Analyst bei Goldman Sachs, CDNow und Peapod Inc. (NasdaqNM:PPOD, WKN: 907407) für die Verlierer der Konsolidierungswelle bei den Internetfirmen hält.

..und das ???

http://biz.yahoo.com/prnews/000523/pa_cdnow_7.html
CDNOW, 7 Up Target Teens with Custom Music CDs
$90 Million in Custom CD Prizes Seeded on 75 Million Specially Marked 7 UP Products for Summer Promotion
FORT WASHINGTON, Pa., and PLANO, Texas, May 23 /PRNewswire/ -- CDNOW (Nasdaq: CDNW - news), the leading online music destination, and Dr Pepper/7 UP, the leading non-cola soft drink enterprise in North America, have teamed up in a joint promotion using custom music CDs as an incentive for teens to buy specially marked 7 UP products. CDNOW will host the Custom CD redemption website (cdnow.com/7up) with over 200 songs, and fulfill Custom CDs on-demand at its own manufacturing facilities in Ft. Washington, PA.

``7 UP selected CDNOW and its interactive Custom CD product as the exclusive prize for this promotion based on our high level of appeal to the targeted 12-to-24-year old market,`` said Tracie Reed, CDNOW`s Vice President of Merchandising. CDNOW attracted more teen visitors than any other major online shopping site in February of this year (Media Metrix, February 2000). In a recent music survey, about 70 percent of 18-and-under panelists expressed an interest in purchasing custom CDs online (1999 Soundata/SoundScan, White Plains, NY).

The under-the-cap instant win game, called ``Tune into 7 UP,`` offers a total of $90 million in Custom CD prizes, seeded on 75 million specially marked 7 UP products, available to consumers from May through September.

In this high-odds game, one out of every dozen 7 UP users will win a free Custom CD, which they can create online at CDNOW. Winners will choose songs from 135 top artists representing music genres with teen appeal: Pop/R&B, Alternative, Rock, Hip-Hop, Dance, Latin, and Country. Featured artists include Moby, Coolio, Widespread Panic, Pavement, Blessid Union of Souls, Stereophonics, Yo La Tengo, Everything, The Donnas, The Flys, Bree Sharp, Galactic, Kurupt, and Kittie.

``Never before have so many record labels participated in a Custom CD tie-in promotion,`` said Reed. CDNOW licensed the Custom CD music selections from 26 record labels, including V2 Records, Tommy Boy Music, Capricorn, Delicious Vinyl, Matador, Trauma, Beggars Banquet, Nervous, Oh Boy, Lookout!, Antra, and Artemis, among others. During the course of the promotion, CDNOW will offer discount pricing on selected albums by participating artists. In addition, CDNOW will use its proprietary retail technology to promote these albums during the Custom CD redemption process.

Winners will submit their bottle cap to 7 UP and receive instructions on how to redeem their custom CD prize at CDNOW. Using a unique code to gain access, winners can listen to song selections, choose up to seven tracks and define their playing order. Next, they may personalize their Custom CD with a title and notes. Winners who choose to redeem offline will select from one of several pre-selected CDs, each with a different music style.

The program will be supported online at CDNOW and will be promoted in stores with point-of-purchase materials nationwide.

7 UP is a brand of Plano, Texas-based Dr Pepper/Seven Up, Inc., the leading non-cola soft drink enterprise in North America and the largest subsidiary of London-based Cadbury Schweppes plc. (NYSE: CSG - news). Its soft drink brands represent about 15 percent of the U.S. carbonated soft drink market. In addition to 7 UP, the company`s other major soft drink brands are Dr Pepper, Canada Dry, Schweppes, A&W Root Beer, Sunkist, Squirt, Hawaiian Punch and Welch`s.

CDNOW -- Never miss a beat.(TM)

CDNOW, Inc., is the leading online music destination that offers the most comprehensive, personalized connection to the world of music. CDNOW`s offerings consist of more than 500,000 music and entertainment-related items, including CDs, music downloads, DVDs, videotapes, cassettes, vinyl albums and Custom CDs, as well as music samples and intelligent album recommendations. CDNOW Media, the Company`s newly formed interactive division, develops CDNOW`s interactive content, including allstar(TM) News, artist interviews and reviews, and the Company`s webcasting and entertainment initiatives.




Was hälst du davon?
Ciao
I2000

[Initiative2000]

Hallo,

CDNOW bleibt ein Gesprächsthema. Die armen Aktionäre werden richtig gequält.Zuerst ein Hoffnungsschimmer und dann das hier...

http://62.26.5.211/news/news_detail.asp?NewsNr=15314

CDNow-Aufkauf ungewiss

Die Aktien von CDNow fallen heute um 27% auf $3,125, nachdem das Unternehmen bekannt gab, dass es nicht garantieren könne, dass es bis zum 30. Juni einen Käufer finden könne, vor allem keinen, der eine Prämie für die Aktionäre zu zahlen bereit wäre.
CD-Now , ein führender Anbieter von Musik über das Internet: „es gibt keine Sicherheit, dass ein Angebot vor dem 30. Juni oder später eingehen werde. Diese Aussage wäre nicht neu, doch CD-Now betonte heute, dass potentielle Käufer eventuell weniger als die durch den Aktienpreis festgelegte Marktkapitalisierung des E-Tailers zu zahlen bereit sein könnten.

Am 2. Juni hat das Management angekündigt, dass mehr als 2 Dutzend Unternehmen an CDNow interessiert seien. Am 3. Juni hat das Unternehmen bekannt gegeben, dass es mit 5 potentiellen Investoren sprechen wolle.

CDNow gehört zu den vielen Internet-Unternehmen, die aufgrund der abgeflauten Internet-Phantasie nicht wie gewöhnlich mit neuen Geldern von Investoren geradezu überschüttet wurde, sondern im Gegenteil dieses Jahr ohne Investor noch Bankrott gehen wird.

Ciao
I2000

[Benchm]

......und heute hat sich jemand endlich jemand erbarmt....aber 3US$ pro Aktie ????
na, mal seh´n was es wird....

[Initiative2000]

Hallo,

3$ sind ein Angebot an die Aktionäre und diese müssen erstmals abstimmen !

Die beiden Gründer besitzen lediglich 17% der aktien. Das letzte Wort ist nicht gesprochen.

[Benchm]

Hallo,

...da kann man nur auf einen starken US$ hoffen....