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Technology Stocks : Osicom(FIBR) -- Ignore unavailable to you. Want to Upgrade?

To: BuzzVA who wrote (4504)	1/23/1998 12:26:00 AM
From: craig crawford	Read Replies (1) \| Respond to of 10479

OK, Buzz, I sent Eddy off to ask the company how their partnership with ABCN is going. Here is your mission--(should you choose to accept it). Why don't you ask FIBR how the new accounting rules are going to affect this company's "earnings" going forward. You see under the new rules you have to report fully diluted earnings based on all the possible shares that can be converted to the total outstanding. I believe this includes options and currently available conversions from convertable debentures, private placements, etc. (whether they actually occur or not). Once again, I'm not an accounting expert so correct me if I'm wrong. I read in FIBR's 10Q that as of 10/31/97 there was $5 million in stock that was convertable. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ From the most recent 10Q: Statement of Financial Accounting Standards No. 128, "Earnings per Share" is effective for financial statements issued for periods ending after December 15, 1997, including interim periods. This pronouncement requires dual presentation of basic and diluted earnings per share ("EPS") on the face of the income statement. It also requires a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. This statement also requires restatement of all prior-period EPS data presented after the effective date. The Company has not determined the effect on its EPS from the adoption of this statement. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ They damn well better determine it soon. It will adversely affect diluted EPS reported.