Creative Labs (CREAF) Message Board

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Technology Stocks : Creative Labs (CREAF)

CREAF 0.411

+11.2%

Dec 8 12:12 PM EST

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To: Chris Sholler who wrote (7858)	1/15/1998 2:04:00 AM
From: Douglas V. Fant	Read Replies (2) of 13925

Chris, Greetings! I went back and carefully read CREAF's 1997 Annual Report - and now I'm confused. In Page Four of the overview section, CREAF notes that it was founded in 1983 in Singapore, and incorporated under the Singapore Companies Act. It then says that CREAF did an IPO on the NASDAQ in August 1992. Then on Page 8 under "Financial Condition and Results of Operations" CREAF notes that it filed an Annual Report on Form 20F with the US Securities and Exchange Commission. Correct me anyone if I am wrong, but do US organized corporations file their Annual Reports on a Form 20F? Any securities lawyers out there???? I interpret this above to mean that CREAF shares actually do trade directly on the NASDAQ (i.e. not as an ADR as I previously asserted), but that CREAF is not organized under US corporate laws and not subject to US financial and accounting requirements, except to the extent specifically required either by the NASDAQ or SEC as a conditon of trading common stock directly on a US exchange. Now that said, CREAF also noted in its Annual Report that it follows GAAP- Generally Accepted Accounting principles..... Sincerely, Doug F.

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