Doug, the book value you refer to includes a little item of 4.4 billion dollars of good will that resulted from their acquisition of Siara (shown below from their 9/30/00 Form 10-Q. Numbers shown below are in thousands. I leave it to you to decide the worth of that item.
Unfortunately the columns don't line up well, but the data is nevertheless visible.
<< Siara
The Company accounted for the merger with Siara under the
purchase method of accounting. The consolidated financial statements
include the results of operations of Siara commencing on March 9, 2000.
The purchase price, including the value of options and
warrants issued in connection with the Merger and professional fees
directly related to the acquisition, was approximately $4.5 billion. The
preliminary allocation of the purchase price to assets acquired and
liabilities assumed is presented in the table that follows (in thousands):
Tangible assets acquired
$
16,381
Identifiable intangibles acquired:
In-process research and development
15,300
Existing technology
13,800
Noncompete agreements
10,000
In-place workforce
27,500
Goodwill
4,419,207
Liabilities assumed
(35,619
)
Total purchase price
$
4,466,569 >> |
