Sergio
From FUEL's last report.
"At the same time, we are pursuing alternatives to convert or retire a substantial portion of our long term debt which would significantly reduce interest expense, after a one-time, non-cash write-off of the related debt discount and deferred debt costs, and should materially improve our bottom-line performance. It is important to note that during the quarter and six month periods we incurred increased interest expense in connection with our outstanding long-term debt and bank line of credit of $964,000 and $1,639,000. The increases over the same periods last year included non-cash interest expense amortization attributable to capitalized deferred debt costs and debt discount of $260,000 and $516,000, with $127,000 and $227,000, being related to the long-term debt we incurred in connection with the acquisitions of Shank and H & W. The current periods also include non-cash charges for stock option amortization expense related to the implementation of FASB 123R amounting to $102,000 and $194,000, which were not incurred last year."
Ken |
