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Biotech / Medical : ACMI - Accumed Inc.
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To: Cisco who wrote (1570)3/20/1998 2:44:00 PM
From: Frank Buck  Read Replies (1) of 1894
 
Cisco,

I don't understand how the private placement warrant offering @ the stipulated price range would not be considered to be in the money and have intrinsic value?

We have been through this in the past and there was a required (S.E.C.) accounting charge taken in a later quarter as a result of that delivering of warrants at a price that was below the then current common stock share value. I do believe it was going back to a time when the share price was in the vicinity of $3.5 and the warrants were issued at $3.25. (Exactly about a year ago???) What is different here??????

If the recent "penned" deal was signed at a time prior to the last couple of days then I would not see a problem.....however if it was signed within the last two days...would that not represent intrinsic-value being granted... with the consequence being the same as before...an accounting charge to be taken by AccuMed?

Frank
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