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Technology Stocks : AremisSoft Corporation (AREM) -- Ignore unavailable to you. Want to Upgrade?

To: Bob Rudd who wrote (153)	5/17/2001 2:45:59 PM
From: Kevin McKenzie	Read Replies (1) \| Respond to of 683

I'm confused about the AREM confusion. The 10k excerpt you pasted it is clearly stated that most of the $37.5 million project occurs in the later phases, which are expressly *"subject to the availability of approximately $20 million in third party lease financing"* and also *"contingent upon acceptance by the NHIF of the earlier phases and other conditions relating to our (AremisSoft's) performance."* I don't see any misrepresentation. Also, the paragraph in the 10k just before the one you referenced refers to a second significant Bulgarian project. " One contract was with a private Bulgarian information technology company, Insyst Electronics, for our manufacturing products and significant Internet related services. The contract is structured in multiple phases and we anticipate recognizing revenues from the contract over a fifteen month implementation period from the day of signing. The estimated value of all phases under the contract is $9.2 million. " Perhaps some of the $7 million in recognized revenues came from this project? I'm a little behind in researching AREM, but it doesn't appear to me that the company misrepresented the project(s), at least in their SEC filings. Here's the 10k biz.yahoo.com