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Technology Stocks : ACII - AmeriChip International, Inc
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To: rhoshariasha who wrote (1679)5/9/2008 9:25:09 PM
From: BarclayDonaldson  Read Replies (1) of 2396
 
Looks like ACII saved a little bit when all was said and done. $30k cash and $130k in CD. The 10K showed it could have been a little more:

Management expects that the outcome of this lawsuit will be that the Company will be obligated to Cornell for a maximum amount of $244,579 which has been reflected as a liability by the Company, and that Cornell will be required to provide a complete accounting of its stock conversions, as well as return any shares converted in excess of the number of shares escrowed. Accordingly, an obligation in the amount of $244,579 is reflected in the Company’s balance sheet.
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