Zitel-ZITL What's Happening Message Board

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Technology Stocks : Zitel-ZITL What's Happening

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To: John Kratus who wrote (12154)	10/30/1997 4:30:00 PM
From: Russian Bear	Read Replies (1) of 18263

Guys, I have a question: Zitel recognized an expense of $1.57 million associated with the debentures, but the number of shares used in the per-share calculations did not appear reflect Cayman conversion (15.4 million.) Why not? Am I missing something? Or, can it be that the 15.4 million share figure represents the average number of outstanding shares for the quarter, while the Cayman folks converted very late in the quarter?

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