TOUGH TIMES FOR INTERNET STOCK SPIN DOCTORS

Good news, investors! Custom CD company Musicmaker.com reported revenues of $3.09 million in the first quarter, soaring from $20,000 in the same period last year. Ah, it looks like that nasty Nasdaq roller coaster ride has treated someone well. Hasn't it?

Oh yeah…um…naturally, net losses were up as well: $11.07 million, or 34 cents per share, versus $1.85 million, of 27 cents per share, in the same period last year. However, that number does represent a smaller loss than the fourth quarter 1999, when losses were $13.1 million, or 40 cents per share. Cash and accounts receivable as of March 31 were reported at $48.83 million, compared to $58.82 million at the end of 1999.

Musicmaker.com stock closed yesterday (4/27) down 9.09% to $2.50.

But let us not forget the company is the target of a class-action suit filed in U.S. District Court for the Central District of California on Feb. 25 which claimed that investors were misled about earnings related to a content deal with EMI.

That's gotta have a positive spin on the stock, right?

Bartender, another round of boilermakers, if you'd be so kind.