Zia Sun(zsun) Message Board

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Microcap & Penny Stocks : Zia Sun(zsun)

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To: Francois Goelo who wrote (6167)	12/26/1999 10:11:00 PM
From: Q.	Read Replies (1) of 10354

Book value cut in half: That's what the 10-Q/a filed filed Dec. 20 shows, when you compare it to the original 10Q. I just now got around to looking at these. My apologies is somebody upthread already dissected this. Seems that ZSUN's accountant just waved his magic wand and POOF! More than half the book value of ZSUN disappeared. Seems the original claim was just an accounting shenanigan, with a whole lot of goodwill showing up as assets. Now most of that goodwill is gone, into the ether. Guess it was never real. When they filed the 10Q on Nov. 18, they claimed shareholders equity was $22 M, thanks to all the goodwill. Now that they filed an amendment, it declined to a mere $10 M. Which works out to pennies per share. Did ZSUN receive a comment from the SEC on its original filing? Here's the new filing: sec.gov Here's the previous version with the funny goodwill: sec.gov

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