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Microcap & Penny Stocks : AWLT wines and gourmet food - Italy Direct -- Ignore unavailable to you. Want to Upgrade?

To: TLWatson59 who wrote (626)	3/12/1998 1:38:00 PM
From: Matthew J. Landi	Read Replies (1) \| Respond to of 2595

TLWatson59, a) The "Land & Buildings" number- as are they all- are the accounting firm's opinion of the allowable figure (which is actually much higher), net of all intercompany and consolidating entries that they anticipate. b) I have no opinion from the accountants about the television time entry; if there is a NASDAQ (or GAAP) objection, it will be resolved at that time. The $5 million number shown is our cost. c) Our largest subsidiary ($6.5 million sales) carries only an average $55,000 inventory (because it deals with perishables- cheeses- and is emptied and restocked almost daily); that skews the total shown. The other subsidiary companies carry the industry normal amounts of inventory (i.e., $2million sales and $420,000 inventory). Thank you for you interest in the company.

To: TLWatson59 who wrote (626)	3/15/1998 9:15:00 AM
From: Slim Pickens	Read Replies (3) \| Respond to of 2595

TLWatson59, You said: "I have seen a number of claims by other companies for this type of asset valuation rejected by the NASDAQ as not qualifying under their acceptable accounting principles." Then Jeff wrote over on the Araldica board: Matt, TLWatson 59 on the SI thread has concerns of nasdaq allowing the 5million worth of commercials to be included as part of araldicas assets. Another company (ALFN) announced yesterday they were purchasing T.V.time to increase its asset base which will move them closer to their goal of filing for nasdaq exchange listing in Q2. I checked and ALFN did put out a press release to that affect. My question is can you be more specific? What other companies have had this type of asset valuation rejected by the NASDAQ? Slim