Rob,
CVIA is a "fully reporting clean public shell", as Jack Arnold put it, with virtually no debt. They have a $2 million loss carry forward (which may well be used to offset taxes.)
CVIA also owns interest in 2 small companies:
"...T.L. Phipps and Promar are majority owned by Terry Phipps and operate as a video and, more recently, a CD-ROM company. Promar is an off-shoot of T.L. Phipps. CVI owns 25% of Phipps and 14% of Promar, but CVI is not responsible for any past, current, or future liabilities of either company. Although these companies have not been profitable to date, with the addition of CD-ROM capabilities, Terry Phipps believes they will achieve profitability soon, and CVI would benefit from these profits." - Jack Arnold, 12/3/97
Regards,
Milk |
