Francois, can you do a new nifty EPS ZSUNE write up for us. Dont for get to subtract the 6 million from cash, add the new shares and take that massive charge for the next 10 long long years. --> ZIASUN TECHNOLOGIES INC 5/11/2000
Form: 10SB12G/A Filing Date: 5/11/2000
freeedgar.com.
From #7--> However, at the request of the former OIA shareholders, one of whom is the
Chairman of ZiaSun and one of whom is a director, and their joint recognition
that it would clearly not be in the best interests of the Company to have such a
large goodwill burden going forward, they inquired if the Company would
reconsider and amend the original terms and conditions of the earn out.
Accordingly, they proposed to exchange 12,000,000 of the earn-out shares, to
which they were originally entitled, for $6,000,000 in cash. The proposal was
reviewed and accepted by the Company on May 9, 2000.
Therefore, under the terms and conditions of the amended earn-out
agreement, the former OIA shareholders will only receive 9,820,152 shares,
rather than the 21,820,152 shares as set forth in the original agreement. This
reduces the goodwill burden to the Company by $136,500,000 to $111,704,230, and
this is the value that will be added to the Company's balance sheet going
forward from April 1, 2000. |
