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Gold/Mining/Energy : Altair Nanotechnologies
ALTI 4.650+0.9%Dec 31 3:59 PM EST
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To: jas singh MD who wrote (241)2/14/1998 11:20:00 AM
From: Roger A. Babb  Read Replies (1) of 603
 
Jas, I don't understand why there is any question as to whether ALTIF is a USA or Canadian company. According to the latest SEC filings its state of registration is Ontario. It does not even have a US IRS employer ID#. Granted, its executive offices are in Cody and its 5 employees do seem to have USA addresses. But legally it is a Canadian company with a work location in the USA. The ALTIF financials were even in Canadian dollars through the end of 1996. The following is from the last 10q:

"The Company is a Canadian corporation and prepares its financial statements in accordance with generally accepted accounting principles in Canada("Canadian GAAP"). The Company's financial statements for the 1996 fiscal year were denominated in Canadian currency. The Company's operations are now centered in the United States, and the Company determined effective January 1, 1997 that
its functional currency is the U.S. Dollar. Accordingly, although the Company continues to follow Canadian GAAP, the foregoing unaudited financial statements are, and the Company's subsequent financial statements will be, denominated in U.S. Dollars. Audited information presented in balance sheet has been restated in U. S. Dollars."

Jas, I am not making any claim that being a Canadian company operating in the USA is good or bad, it just seemed strange to me that the thread was debating something that could be easily established by reading the SEC filings.

I am short ALTIF and following this thread. But I am not interested in participating in "opinion" discussions. My only posts or responses on this thread will be factual discussions. Mostly I will read and not post. I would be just as happy to cover my short and go long if the facts point the other way. My reason for being short at this point is the convertible issue, these are almost universally bad for share price.
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