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To: PsycProf who wrote (10680)	4/5/1998 11:25:00 PM
From: Kool Guy	Read Replies (1) \| Respond to of 27968

Psycprof, You had stated that the Audited Financial Statements would not be released because of the Myriad Deal. Are we refering to the year ended December 31, 1997 audited Financial Statements? My understanding was that Myriad could be included in the financial statements if the Myriad deal was considered a "Subsequent Event" of if this even occured during the reporting period. For example, lets say the CPAs were auditing the year ended December 31, 1997. If the myriad deal was a part of the 97 year it would of course be included in the financial statements for 1997, but if the Myriad deal was to occur between 12.31.97 and the release of the financial statements, the financial statements may need to be restated to reflect this event. Subsequent Events are defined as events which are material (i.e. which could alter the opinion of the FS reader as to the financial position of the reader) and which occured subsequent to the Balance Sheet date (12.31.97) but prior to the release of the financial statements. Did Myriad fall within these parameters? Its possible if the auditors had not released the statements yet. Now please bear in mind that I have not been an auditor for some time now so GAAP may have changed since then, but for what its worth this is my recollection of the standards.