Calton, Inc. (CN) Message Board

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Microcap & Penny Stocks : Calton, Inc. (CN)

CTON 0.680

0.0%

Nov 3 4:00 PM EST

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To: JR who wrote (4)	9/27/1999 5:27:00 PM
From: Glenn Petersen	Read Replies (1) of 67

CN's second quarter Form 10-Q disclosed that the company had negotiated a post closing agreement with Centex whereby CN was going to refund $700,000 to Centex. The $700,000 was going to be paid during the third quarter and would come out of the $5.2 MM that had been placed in escrow. I talked to CN's CFO today and he indicated to me that CN expects to retain most, if not all, of the remaining $4.5 MM. These funds were not included in my August 2, 1999 calculation. The retention of these funds would add about $.19 per share to CN's cash balance. CN would then have, on an adjusted basis, $1.70 of cash per share.

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