Dear JDN, Thanks for the observation. Based on your comments I referred back to the prospectus and it appears that in 1997 revenues of $25,057,039 were generated from US operations and $2,870,150 were generated from Indian operations. However in the consolidated statement Indian revenues are eliminated, thus reflecting total revenues for 1997 of $25,057,039.
Minority income generated from Indian operations is included in the consolidated statement.
JDN, If my reading of the numbers are correct it would appear that rather then including 51% of 1997 Indian revenues in the consolidated totals, 0% is the amount that is being reflected. If that is the case then even further adjustments are necessary in order to reflect true comparable 98/97 revenue growth.
Prospectus link:
quote.com
Go to list of Edgar filings for CMND, which can be accessed by selecting a news story from edgar and then navigating to the bottom of the Edgar document. Then select the S-1/A filed 3/6/98
JDN, The document is quite lengthy. The first 57 pages contain the prospectus offering. Beyond page 57 is the consolidated statement. Refer to page F-14 of the consolidated statement for the revenue numbers that I have referred to. Please verify if my understanding is correct or is in need of adjustment.
Thanks, JAB |
