Brad, the annual report has been out for a couple weeks now. If you really want to do that to yourself, you can read it at
sec.gov
P. S. From Spencer:
CURRENT ASSETS
C A S H $974,000
Prepaid Expenses $82,000
Total Current Assets $1,056,000
CURRENT LIABILITIES $506,000
NET WORKING CAPITAL $550,000
TOTAL OUTSTANDING SHARES AS OF 4/9/97 WERE 6,465,134
We reported EPS based on "weighted average common shares outstanding,
including adjusted common stock equivalents (i.e. stock options, warrants), were 6,967,789." This calculation is based on, what the accountants told us were the new rules regarding GAAP accounting for Public Corporations in regards to NASD regs adjusting for derivations. In other words, we have not a clue how in the **** they calculated this number. If any CPA's reading this can explain it to us - PLEASE - go right ahead.
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OK, CPAs, how do you figure stock warrants into the outstanding shares? And if they haven't been issued yet, do they even exist?
Charles |
