SANTA CLARA, Calif., Sept. 21
SANTA CLARA, Calif., Sept. 21 /PRNewswire/ -- Alliance Semiconductor
Corporation announced today that it had received a registered warrant from the
State of California in the amount of $1,467,770 as a refund for the tax year
ending 2002. It is expected that this warrant will be honored on or after
October 2, 2009. Bryant Riley, Alliance's Chairman, said, "Once redeemed, this
refund brings our current cash balance to approximately $2.5 million. We
continue to focus our efforts on the monetization of our position in Ambac
Assurance Preferred Shares which we own as a result of the conversion of $59.4
million auction rate securities originally purchased in 2007 and converted
into preferred shares in December 2008." As of July 28, 2009 Ambac Assurance
discontinued paying dividends on these preferred shares. |
