Amazon.com's cash and investment balances at end of 1997 were $125 million, following its May 1997 IPO and a $75 million loan.
Resolved true The record shows it happened or was so.
Factual: Statements about the present or the past, checked against the record: did they hold up?
The evidence is the person's or their organisation's own records.
Said for an organisation they lead or work for; it counts on both records.
What would count as true or false
Judged against Amazon's audited 1997 financial statements (the 1997 10-K or annual report), applying any later restatement. True: cash, cash equivalents and marketable securities at 31 December 1997 were $125 million (within about ±$2m, i.e. rounding), the IPO took place in May 1997, and a $75 million loan was obtained. Mostly true: the balance is within about ±5%, or there is a minor slip in the IPO month or loan detail. Mixed: the balance is right but the IPO or loan details are materially wrong, or vice versa. Mostly false: the balance differs by more than 5% but is of a similar order. False: the balance and the financing events are wrong.
Set before the research began.
Evidence (4)
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E1 0000891020-98-000448.txt (Amazon.com Form 10-K for the year ended December 31, 1997) U.S. Securities and Exchange Commission (filed by Amazon.com, Inc.) · March 1998
“consisted of $109.8 million of cash and cash equivalents and $15.3 million of short-term investments.”
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E2 0000891020-98-000448.txt (Amazon.com Form 10-K for the year ended December 31, 1997) U.S. Securities and Exchange Commission (filed by Amazon.com, Inc.) · March 1998
“On December 23, 1997, the Company borrowed $75 million pursuant to a”
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E3 AMAZON COM INC (AMZN) | 8-K | FORM 8-K | Period: 1998-08-27 | Filed: 1998-09-11 U.S. Securities and Exchange Commission (filed by Amazon.com, Inc.) · 11 September 1998
“consisted of $110.1 million of cash and cash equivalents and $15.3 million of”
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E4 AMAZON COM INC (AMZN) | 8-K | FORM 8-K | Period: 1998-08-27 | Filed: 1998-09-11 U.S. Securities and Exchange Commission (filed by Amazon.com, Inc.) · 11 September 1998
“the Company's May 1997 initial public offering”
Reasoning
The FY1997 10-K reports cash, cash equivalents and short-term investments of $109.8m and $15.3m, about $125.1m in total (E1). A later 1998 8-K gives $110.1m of cash and cash equivalents and $15.3m of a second item, about $125.4m in total (E3). Both totals fall within rounding of the $125m claimed. The 10-K shows the company borrowed $75 million on December 23, 1997 (E2), and the 8-K confirms the IPO was in May 1997 (E4).
Cite this claim
Jeff Bezos, “Amazon.com's cash and investment balances at end of 1997 were $125 million, following its May 1997 IPO and a $75 million loan.” (said 1998). Verdict: resolved true. Reliability API, claim c_7018d318b3bf, method 0.1.0+c876030c, dataset release v1.1.2. https://epistacklabs.com/claims/c_7018d318b3bf
This claim is in dataset release v1.1.2, with the same verdict.
Reply to this claim
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Verdicts are made automatically; how verdicts are made.