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Technology Stocks : Information Architects (IARC): E-Commerce & EIP -- Ignore unavailable to you. Want to Upgrade?

To: sibe who wrote (3823)	12/25/1997 10:21:00 PM
From: tech	Respond to of 10786

From Alydaar's 10Q sec.gov ------------------------------------------------------------------- >> Subsidiary acquired July 1, 1997, by Issuance of Company common stock valued at $6,115,000 at the time of issuance plus the assumption of approximately $100,000 of net payables and forgiveness of a $300,000 Note receivable. << --------------------------------------------------------------------- On July 1, 1997 ALYD's stock price closed at approx. $19.00 If they gave CHASE $6,115,000 in stock that would mean approx. 322,000 shares of stock in Alydaar. also from the 10Q sec.gov ------------------------------------------------------------------ FINANCIAL CONDITION AND LIQUIDITY: Alydaar Software Corporation's principal liquid resources, comprising cash and trade receivables, increased $4.9 million from December 31, 1996 to September 30, 1997. This increase was caused primarily as a result of cash from sales of stock and receivables generated by operations primarily in the third quarter. Working capital totaled $4.2 million at September 30, 1997, as compared with negative working capital of $1.7 million at December 31, 1996. The significant improvement was due to $14.8 million raised from sales of stock and exercise of warrants and an increase in receivables of $2.47 million resulting from revenue generated by operations primarily in the third quarter. --------------------------------------------------------------------- This was also very interesting. --------------------------------------------------------------------- 2. The Company acquired a 100% interest in Alydaar International, PLC during the third quarter of 1997. Accordingly, the Company's financial statements include the accounts of Alydaar International, PLC from the date of acquisition of that subsidiary (July 1, 1997). All significant intercompany transactions and accounts have been eliminated as part of the consolidation of the financial information. This combination is accounted for as a purchase as required under APB 16. The following pro forma information on results of operations is computed as if the acquisition occurred from the date of inception for Alydaar International, PLC, January 2, 1997: --------------------------- ------------------------- 3 MONTHS ENDED ..... 9 MONTHS ENDED --------------------------- ------------------------- 9/30/97 .... 9/30/97 --------------------------- ------------------------- <S> <C> <C> Revenues $ 2,258,570 $ 4,648,939 --------------------------- ------------------------- Net Loss ($ 2,171,043) ($ 9,279,323) --------------------------- ------------------------- Net Loss Per Share ($ 0.13) ($ 0.60) --------------------------- ------------------------- --------------------------------------------------------------------- Good thing they gave Chase in excess of $6 million in ALYD stock for their half of the joint venture. Now Chase has signed a alliance with another year 2000 company and has made a bundle of money, at the expense of the ALYD shareholders, thanks to Bob Gruder. As a ALYD shareholder, CHASE will be able to take advantage of other contracts ALYD may announce and will sell more stock every time the price starts to sneak up. It's the kind of gift that keeps on giving even after the deal is done.