Financial Shenanigans: Stocks Looking for a Fall Message Board

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Microcap & Penny Stocks : Financial Shenanigans: Stocks Looking for a Fall

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To: Anaxagoras who wrote (104)	11/17/1998 8:20:00 AM
From: Anaxagoras	Read Replies (1) of 108

Just realized that the issue of aggressive write-off of IPR&D was at the heart of ENVY's restatement of earnings. ENVY is a somewhat popular short on SI. Here's an extract from their press release, FWIW: NASHVILLE, Tenn.--(BUSINESS WIRE)--Nov. 16, 1998--ENVOY Corporation (Nasdaq/NM:ENVY - news) today announced that it has resolved the issues raised by the staff of the Securities and Exchange Commission (the ''SEC''), relating to the Company's accounting treatment for acquired in-process-research and development technology for certain acquisitions. Recent speeches and other public announcements by the Chairman of the SEC and members of the SEC staff have expressed concerns over the nature and appropriateness of the valuation methodology utilized by the accounting profession and other professionals in valuing in-process research technology, and the Company has previously disclosed that similar concerns were expressed to the Company by the SEC staff. etc., etc. Here's the rest, if ya care: biz.yahoo.com Anaxagoras

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