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Microcap & Penny Stocks : ABTX - Agribiotech

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To: The Ox who wrote (7610)	2/25/1999 1:24:00 PM
From: Osothebear_517	of 8359

In partial answer to your question, I would note to you that during the financial portion of the general meeting, the individual handling that portion stated that for the current year, there was no allowance made for income taxes since it would be a tactical impossibility for the company to be profitable in the current year. He promised that there would be hard numbers available to quantify the integration charges by the end of the next quarter but the implication was that those charges would most likely not be recognized until the following quarter. He also stated that there would be a good look given to reevaluating goodwill. The determination in that regard could impact bottom line profitability into next year. Aside from these bookkeeping matters, we were given to understand that there wasn't any reason to believe that projected revenues from operations would in any way be currently overstated which led me to believe that we were talking gross profitability next year subject to allowable charges. The only caveat that was given in this regard was that as the integration process comes to completion, the company will for the first time be able to assess fully the amount of duplicative sales reporting which has taken place as a result of sales from one acquired company to another and then on to the ultimate consumer. Since these will now be treated as pass through sales, they will only impact gross revenues once. Any reduction in anticipated revenues will be more than offset by the reduction in sites and the employment downsizing which is envisioned for completion in the next 6-9 months. OSO

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