Burn baby burn, dotcom inferno
Quarterly cash flow results have been released by 60 dotcoms indicating losses despite attempts to reduce spending. 77 remaining companies are yet to submit their summaries to the ASX by midnight tonight with analysts predicting that results will worsen. According to analysts, most of the dotcoms are still spending more money than they are making. The poor revenue growth is expected to place increased pressure on e-commerce and technology businesses to reduce cash burn.
‘Cash flow plagues the dot coms’, The Australian Financial Review, 31/10/00, p 35.