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Technology Stocks : Osicom(FIBR)

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To: craig crawford who wrote (4687)	1/24/1998 12:11:00 PM
From: Robert Gordon	Read Replies (1) of 10479

Hong Kong question: We did not audit the financial statements of a foreign subsidiary which statements reflect total assets of $26,689,000 as of January 31, 1997 and total revenues of $50,692,000 for the ten months then ended. Those statements were audited by other auditors whose report has been furnished to us, and our opinion, insofar as it relates to the amounts included for such subsidiary, is based solely on the report of the other auditors. We make our products in china so our costs go down. The only problem is that our china assets should decrease this quarter by about half. Perhaps we will not be able to borrow as much and our balance sheet may reflect the differences next quarter.

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