Innovacom (MPEG), [announced single chip MPEG-2 encoder] Message Board

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Technology Stocks : Innovacom (MPEG), [announced single chip MPEG-2 encoder]

MPEG 0.0001000

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Aug 29 1:17 PM EST

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To: Peter V who wrote (5447)	5/20/1998 12:46:00 PM
From: DiViT	Read Replies (1) of 6297

#3... ... InnovaCom, Inc. filed its annual report on Form 10-KSB with the United States Securities and Exchange Commission on April 15, 1998. Included in that report were the Company's December 31, 1997, financial statements. Subsequent to the issuance of those financial statements, the Company re-evaluated the accounting for the acquisition of Sierra Vista which occurred in May 1997. As a result, the Copmany has increased the total purchase price relative to the acquisition of Sierra Vista by $1,090,452 which amount was allocated to goodwill. The goodwill is being amortized over the three year period subsequent to the acquisition on a straight line basis. Accordingly, these financial statements have been restated to reflect the addition of the above-mentioned goodwill with a corresponding decrease in stockholders' (deficit), as well as recognizing $242,323 of amortization expense for the year ended December 31, 1997. The additional amortization expense increased net loss per basic and diluted share by $0.01.

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