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Technology Stocks : Insignia Solutions (INSG)

INSG 10.69

+0.6%

Jan 14 3:59 PM EST

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To: Bert Zed who wrote (633)	1/29/1999 12:06:00 PM
From: nic	Read Replies (1) of 1606

Debit profit and loss account. Credit provision for indemnity claim. Wait a minute, INSGY put 8.75M from Citrix in escrow for just such a case. Correct me if I'm wrong, but funds in escrow are booked under assets, not revenues. This means: 1) no restatement for the past quarter, 2) no effect on revenue for the current quarter - the press release explicitly states that this quarter's release of 2.5M from the escrow account will not be affected. In fact it looks like the only potential effect is on revenue that would otherwise be booked in August. Note also that there is nothing to suggest that Citrix' claims are anywhere near 6.25M - Citrix has so far not specified the amount they seek, except for giving INSGY an assurance that it was less than 6.25M (the amount remaining in escrow after Feb 5th). - nic

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