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Microcap & Penny Stocks : Saflink Corp. (ESAF) Biometric Software Provider
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To: Jaffo who wrote (2504)12/15/1997 4:35:00 PM
From: GoingHikin  Read Replies (2) of 4676
 
Jaffo,

I am very excited about the API and what it means for NRI. But I am still concerned about earnings reports for the next year. NRI may bring in increasing revenue, but it could be all wiped out on their 10-Q by the "deemed dividend" to the preferred stock holders.

Could you ask Mr. G to explain the preferred stock "deemed dividend" in the last two quarter's 10-Q's.

1. How did they calculate the deemed dividend recorded in the 10-Q's from 1997 and the refiling of the 10-K from 1996?

2. They had to change their bookkeeping to report the "deemed dividend", and knowing that it would way overshadow the growing revenue, why didn't they forsee that their stock price would take a dive as investors looked at the bottom line.

3. And..how could they choose to change their bookkeeping method (And report the "deemed dividend") at a time when they would need to raise revenue through an equity offering.

4. Is there any funny business going on?

Thanks,
DLevitt
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