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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: M. Frank Greiffenstein who wrote (2374)	10/6/1999 7:55:00 PM
From: quidditch	Respond to of 15615

Can GBLX and FRO combine their income statements for the 3rd quarter, --or-- will they have to provide prorated statements? Seems to me if they merged on 9/22, they can merge their statements. Well, er, not quite. This was raised a few days ago. First off, it's "pro forma", not prorated. The short answer is that GBLX/FRO will file an historical combined balance sheet as of 9/30/99 reflecting the merger. They must file an 8-K to reflect the transaction (probably on file already via EDGAR--perhaps Teddy knows) but have up to 60 days from the filing to file pro formas. As to the income statement, since FRO meets certain tests vis a vis GBLX pre-merger and given that the transaction occurred after the start of the quarter and obviously the fiscal year, pro forma income statement for the nine months plus preceding fiscal year will be required. Since you asked.