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SEC's Amazon.com Inquiry Could Get Much Uglier

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"As the money did not go into investing or financing, it quite possibly went into operations — which means that the negative operating cash flow was possibly $173 million greater than the $4 million that the company reported," Suria notes.

"Given that in our opinion, the cash number (which is usually the most inviolate of the numbers on the income statement, balance sheet or cash flow statement) does not fully represent 'cold hard cash,' we look forward to the filing of the 10-Q."

Click here for a copy of Amazon.com's 10-Q, just released today.


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