Del,
The 3/2 drop on volume was probably due to their filing that the 10-K would be late--now due by 3/15. Pasted their reason below--looks like the other Steve's compensation has resurfaced -Bob
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[State below in reasonable detail the reasons why the Form 10-K, 11-K, 10-Q, N-SAR, or the transition report or portion thereof, could not be filed with the prescribed time period.]
"Financial reporting and accounting difficulties, relating to the
consolidation of a business entity acquired during the fiscal year ended November 30, 1997, have resulted in unforeseen delays in connection with the preparation of the Registrant's year-end financial statements and its management's discussion and analysis. Specifically, the Registrant received appraisals of the fixed assets and intangible assets of Hansen's Juices, Inc., ("Hansens") and the valuation information relating to the warrants issued in connection with the Hansen's acquisition, each necessary to complete the
Registrant's evaluation of the purchase accounting treatment of its acquisition of Hansen's, later than anticipated. The issuance of Statement of Financial Accounting Standards No. 123 "Accounting for Stock-Based Compensation" and the requirements thereunder required the Registrant to expand its disclosure of options granted under the Registrant's qualified stock option plan and certain warrants issued by the Company. The valuation information required for SFAS 123 was received by the Registrant later than anticipated."
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