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Microcap & Penny Stocks : Zia Sun(zsun) -- Ignore unavailable to you. Want to Upgrade?

To: who cares? who wrote (7986)	5/22/2000 6:43:00 PM
From: StockDung	Respond to of 10354

Forensic Accountant Frisky on zsun's 10Q which was filed today; By: frisky Reply To: None Monday, 22 May 2000 at 6:37 PM EDT Post # of 21326 The official version of 10q statement finally arrived today. ZSUN reported 32,153,670 issued shares in the balance sheet as well as in the supplemental statement. ZSUN also reported the goodwill and additional paid-in capital that covered all the reward to former OIA shareholders. However, it only used 22,269,148 as weighted average outstanding shares in calculating the basic and diluted EPS of $.09. This is a questionable approach. It appears that ZSUN did not include the additional 9,820,152 shares that issued to former OIA shareholders for calculating the basic and diluted. If we use 32,153,670 shares as denominator, the diluted EPS should be just $.06. ZSUN had not amortized the newly recorded goodwill from issuing 9,820,152 shares and $6,000,000 reward in the first quarter. The goodwill amortization will lower ZSUN?s earnings by $.08 each quarter for the next 40 quarters. The $6,000,000 reward was recorded as related party payable. Meaning, one must deduct the obligation from the total cash available. ZSUN had two interesting items in the cash flow statement. It showed borrowings from the related parties of $5,310,000. It also showed cash acquired in purchase of subsidiaries of ($5,428,458). However, I could not find the correspondent accounts that reported in the balance sheet. ZSUN did not present a footnote to explain these two figures. I had no idea what they meant either.

To: who cares? who wrote (7986)	5/22/2000 7:49:00 PM
From: StockDung	Respond to of 10354

More from SHPSE recent sec filing; ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE Effective February 28, 2000, the Company, dismissed Jones, Jensen & Company ("Jones") as the Company's independent accountants, and engaged Radin, Glass & Co. LLP ("Radin") as the Company's new independent accountants. The dismissal of Jones and the retention of Radin were approved by the Company's Board of Directors. AMCI INTERNATIONAL INC filed this 10KSB40 on 05/18/2000. tenkwizard.com