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To: golferfanatic who wrote (625)2/9/2008 1:45:01 PM
From: caly  Read Replies (1) | Respond to of 1811
 
If the option grant took place on 2/5/2008 at a price of .72, they were nicely discounted to the market value. The stock closed at .90 that day or thereabouts.

From an accounting standpoint, won't this difference have to be reflected as a loss to the company? I'm not an expert on this, but I think the whole options backdating scandal was based on companies not properly accounting for options given to execs at a discount to market value on the day they were actually issued. There's nothing illegal about giving the options at a discount, the company just has to take the loss.

If I understand it correctly.



To: golferfanatic who wrote (625)2/9/2008 1:58:22 PM
From: smars4444  Respond to of 1811
 
golfer,
Thank you for your reply.



To: golferfanatic who wrote (625)2/9/2008 2:07:48 PM
From: smars4444  Read Replies (1) | Respond to of 1811
 
Was wondering if anyone called the IR firm about reverse split?
If not, I plan on calling them Monday morning.


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