I do not know the exact number of shares issued in the CoulourPass merger either but one can bracket it. Their 1st Q report
streetlink.com
states that RGFX had 7,616,007 shares in August 1996 at the IPO and 10,147,985 on April 23, 1997. Presumably some number of these shares <2,531,978 were used in the acquisition. It was certainly <2,000,000 shares.
Doing the calculations from this same report, the sales and earnings were:
1st Q 1997 RGFX alone: $11,565,000
1st Q 1997 CoulorPass alone: $1,022,000
Total (as pooling): $12,124,000 sales, $969,000 earnings ($0.10/sh)
1st Q 1996 RGFX alone: $8,591,000 sales, $489,000 earnings ($0.06/sh)
1st Q 1996 CoulourPass (separate): $731,000 sales, -$37,000 earnings
Pretty good growth and ColourPass made a positive contribution to earnings.
From Edgar:
edgar-online.com
In March 1997, the Company completed its merger with ColourPass Technologies, a business in the United Kingdom, in exchange for the issuance of common stock in the Company. It is the Company's intention to account for the transaction using the pooling of interest method. At December 31, 1996, ColourPass had total assets of approximately $2.0 million and recorded revenues of non-Raster Graphics, Inc. products of approximately $2.3 million for the year ended December
31, 1996.
In March 1997, RGFX was selling at about $7 a share. With those assets, one would assume that something in excess of 300,000 shares of RGFX was exchanged.
I expect that the exact number will be in the annual report but that is some time away.
Zacks has earnings being released July 22 with an estimate of $0.11/sh and good growth predicted for the year; however, the stock has been pretty flat for the past two months. |
