SUBSEQUENT EVENT. After an adjustment to the Exercise Rate under this Section, any subsequent event requiring an adjustment under this Section shall cause an adjustment to the Exercise Rate as so adjusted.
SUBSEQUENT EVENT. On April 8, 2002, we were sold to El Paso Energy Partners, L.P. for total consideration of approximately $735 million subject to adjustment for actual working capital acquired. Excluded from this transaction was approximately $30 million of communications assets that are reflected in property, plant, and equipment on the accompanying balance sheets. REPORT OF INDEPENDENT ACCOUNTANTS To the Owners of EPGT Texas Pipeline, L.P., El Paso Gas Storage Company, El Paso Hub Services Company, and the El Paso Field Services Gathering and Processing Businesses: In our opinion, the accompanying combined balance sheets and the related combined statements of income, owners' net investment and cash flows present fairly, in all material respects, the financial position of EPGT Texas Pipeline, L.P., El Paso Gas Storage Company, El Paso Hub Services Company, and the El Paso Field Services Gathering and Processing Businesses (collectively, the "Businesses") at December 31, 2001 and 2000, and the results of their operations and their cash flows for the three years in the period ended December 31, 2001 in conformity with accounting principles generally accepted in the United States of America. These financial statements are the responsibility of the Businesses' management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with auditing standards generally accepted in the United States of America, which require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. As described in Note 5 to the combined financial statements, the Businesses have significant transactions and relationships with affiliated entities. Because of these relationships, it is possible that the terms of these transactions are not the same as those that would result from transactions among wholly unrelated parties. Furthermore, as discussed in Note 2, the combined financial statements include various cost allocations and management estimates based on assumptions that management believes...
SUBSEQUENT EVENT. If Licensor shall assign its Interest (as defined in the Operating Agreement) to Herald or its permitted successor or assignee pursuant to Section 1(a) of the Indemnity Agreement of even date herewith between Licensor and Herald, Licensor shall simultaneously assign all its right, title and interest in and to the Names and Other Rights to Herald or its permitted successor or assignee.
SUBSEQUENT EVENT. ETT in a prudent and business-like manner will immediately begin a search both to provide new borrowings to replace First Valley Bank as soon as possible and new equity capital to continue the planned growth program. Prior to the search, a forecast and a budget must be prepared to support this effort.
SUBSEQUENT EVENT. In July 2000, the Company acquired all of the outstanding common and preferred stock of CallTheShots Inc. ("CTS"), in exchange for a combination of Akamai common stock and cash. The purchase price is estimated to be approximately $6 million based on the fair value of the consideration paid plus direct acquisition costs. The acquisition will be accounted for as a purchase. CTS develops services that enable Web site visitors to personalize their interaction with such site. ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS This Form 10-Q contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. For this purpose, statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes," "anticipates," "plans," "expects" and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve risks and uncertainties and are not guarantees of future performance. Actual results may differ materially from those indicated in such forward-looking statements as a result of certain factors including, but not limited to, those set forth under the heading "Factors Affecting Future Operating Results." OVERVIEW We provide global delivery services for Internet content, streaming media and applications, and global Internet traffic management services. Our services improve the speed, quality, availability, reliability and scalability of Web sites. Our services deliver our customers' Internet content, streaming media and applications through a distributed worldwide server network, which locates the content and applications geographically closer to users. As of June 30, 2000, we had approximately 2,100 signed customers, including 895 customers under recurring contract. Since our inception, we have incurred significant losses, and as of June 30, 2000, we had an accumulated deficit of $337.2 million. We have not achieved profitability on a quarterly or an annual basis, and anticipate that we will continue to incur net losses. We expect to incur significant engineering and development and sales, general and administrative expenses and, as a result, we will need to generate significant revenue to achieve and maintain profitability. In the first quarter of 2000, we entered into agreements to acquire all the outstanding common and pref...
SUBSEQUENT EVENT. In connection with entering into the $16.0 million promissory in May 2001 (Note 1), the Company granted the lender a warrant to purchase 426,667 shares of the Company's Class A common stock at an exercise price of $4.00 per share. The warrant expires in May 2006. During the term of the promissory note, assuming certain prepayment milestones are not met, the lender will receive warrants to purchase up to an additional 426,667 shares of the Company's Class A common stock at an exercise price equal to 110% of the then current market price. If the Company prepays the note prior to six months following its issuance, up to $1.6 million of the principal amount is convertible, at the lender's option, into the Company's Class A common stock at a conversion price of $4.00 per share. Schedule II Odentics, Inc. Valuation and Qualifying Accounts Balance at Charged to Charged Balance at Beginning Costs and to Deductions End of Description of Period Expenses Accounts Describe Period ----------- ---------- ---------- -------- ---------- ---------- Year ended March 31, 1999: Deducted from asset accounts: Allowance for doubtful accounts.............. $ 432,000 $ 332,000 $125,000 $ (50,000) $ 839,000 Reserve for inventory obsolescence.......... 2,881,000 1,590,000 0 (1,300,000) 3,171,000 Year ended March 31, 2000 Deducted from asset accounts: $ 839,000 $1,293,000 $ 0 $ (64,000) $2,068,000 3,171,000 1,438,000 0 (1,123,000) 3,486,000 Allowance for doubtful accounts...............
SUBSEQUENT EVENT. On December 8, 2005, the Company authorized a forward stock split, and increased the number of issued and outstanding shares on a five-for-one (5:1) basis. All share amounts have been retroactively adjusted for all period's presented. SCHEDULE C to that Share Purchase Agreement among Sass Xxxxxx, The Xxxxxx Family Trust, Xxxxxx Xxxx, Xxxx Xxxxx, The Xxxx Xxxxxx Family Trust, Eastern Liquidity Partners Ltd., FC Financial Services Inc., ICP Solar Technologies Inc., Taras Chebountchak, Xxxx Xxxxxxx, and 1260491 Alberta Inc. dated for reference as of the 28th day of September, 2006 FC UNAUDITED FINANCIAL STATEMENTS FC FINANCIAL SERVICES, INC. (A Development Stage Company) CONTENTS FINANCIAL STATEMENTS Balance Sheets F-1 Statements of Operations F-2 Statements of Cash Flows F-3 Statements of Stockholders’ Equity F-4 Notes to the Financial Statements F-5 F-i FC FINANCIAL SERVICES, INC. (A Development Stage Company) FINANCIAL STATEMENTS For the Six Months Ended May 31, 2006 and for the Period from November 19, 2003 (Date of Inception) to May 31, 2006 (unaudited) (Expressed in US dollars) F-ii FC FINANCIAL SERVICES, INC. (A Development Stage Company) BALANCE SHEETS (Expressed in US dollars) (unaudited) May 31, November 30, 2006 2005 $ $ ASSETS Current Assets Cash 1,024,961 49,963 Prepaid expenses 10,000 – Loan receivable (Note 3) 1,004,110 – Total Current Assets 2,039,071 49,963 Property and Equipment (Note 4) 5,428 6,241 TOTAL ASSETS 2,044,499 56,204 LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES Current Liabilities Accounts payable 848 – Accrued liabilities 3,250 8,805 Total Current Liabilities 4,098 8,805 TOTAL LIABILITIES 4,098 8,805 STOCKHOLDERS' EQUITY Common stock 100,000,000 shares authorized, $0.00001 par value, 32,722,750 shares issued and outstanding (Note 6) 327 307 Additional paid-in capital (Note 6) 2,114,158 114,198 Donated capital (Notes 5(b) and (c)) 41,400 27,600 Deficit accumulated during the development stage (115,484 ) (94,706 ) Total Stockholders' Equity 2,040,401 47,399 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 2,044,499 56,204 (The Accompanying Notes are an Integral Part of These Financial Statements) FC FINANCIAL SERVICES, INC. (A Development Stage Company) STATEMENTS OF OPERATIONS (Expressed in US dollars) (unaudited) Accumulated from November 19, Three months Three months Six months Six months 2003(Date of ended ended ended ended Inception) to May 31, May 31, May 31, May 31, May 31, 2006 2006 2005 2006 2005 $ $ $ $ $ REVENUE Interest ...
SUBSEQUENT EVENT. The establishment of CRRC Financial Leasing Company through the contribution of capital by the Company, CRRC Group, Yanzhou Coal, China Energy Reserve and Tianjin Trust is subject to approval from CBRC. Therefore, completion of the Transaction is subject to uncertainties. In addition, since CBRC will review the qualifications of the parties after the formal submission of the relevant materials, the parties to the Transaction (other than the Company and CRRC Group) and their respective shareholding may change. In order to proceed with the establishment of the CRRC Financial Leasing Company, the president of the Company is authorised by the Board to change the parties to the Transaction (other than the Company and CRRC Group) and their respective shareholding in accordance with the requirements of the relevant PRC regulatory authority. The Company will publish further announcements in relation to the establishment of the CRRC Financial Leasing Company in due course in accordance with the applicable regulatory requirements.
SUBSEQUENT EVENT. On August 16, 1995, Johnxxxx xxxntly announced with Jupiter an agreement and plan of merger under which the public shareholders of Jupiter would receive $32.875 per share in cash from Johnxxxx. Xhe per share cash price is subject to adjustment based upon the market value of certain securities held by Jupiter on a date close to the date the merger proxy statement is mailed to Jupiter shareholders. If this adjustment had been made as of the close of business on August 15, 1995, the amount to be paid by Johnxxxx would have been $31.593 per share or approximately $37,500,000. The merger is subject to approval by Jupiter's shareholders and is expected to close in February 1996. JOHNXXXX XXXUSTRIES, INC. (PARENT COMPANY) SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT BALANCE SHEETS JUNE 30, 1995 AND 1994 ASSETS 1995 1994 CURRENT ASSETS: Cash and cash equivalents $ 2,979,000 $ 3,681,000 Prepaid expenses and other 469,000 522,000 Deferred income taxes 788,000 ------------ ------------- Total current assets 4,236,000 4,203,000 INVESTMENT IN WHOLLY OWNED CONSOLIDATED SUBSIDIARIES - At equity 95,705,000 92,116,000 INVESTMENTS IN MAJORITY OWNED SUBSIDIARY AND IN UNCONSOLIDATED AFFILIATES - At equity 29,067,000 21,036,000 PROPERTY, PLANT, AND EQUIPMENT - Net 2,739,000 2,331,000 INTANGIBLE ASSET - PENSION 2,675,000 2,874,000 OTHER ASSETS 1,721,000 7,127,000 LONG-TERM DEFERRED INCOME TAXES 4,859,000 5,933,000 ------------ ------------- $141,002,000 $ 135,620,000 ============ ============= LIABILITIES AND STOCKHOLDERS' EQUITY 1995 1994 CURRENT LIABILITIES: Short-term borrowings $ 6,800,000 $ 2,500,000 Current maturities of long-term debt 87,000 5,087,000 Accounts payable 856,000 280,000 Accrued expenses 3,012,000 2,037,000 Income taxes payable 656,000 Deferred income taxes 1,731,000 Intercompany payables 7,541,000 11,030,000 ------------ ------------- Total current liabilities 18,296,000 23,321,000 LONG-TERM DEBT 46,130,000 36,216,000 ------------ ------------- OTHER LIABILITIES 13,149,000 16,275,000 ------------ ------------- COMMITMENTS AND CONTINGENCIES STOCKHOLDERS' EQUITY: Common stock, par value $.10 per share; authorized, 20,000,000 shares; issued 12,426,891 and 12,411,891 1,243,000 1,241,000 Additional paid-in capital 17,258,000 17,107,000 Retained earnings 54,808,000 51,065,000 ------------ ------------- Total 73,309,000 69,413,000 Less treasury stock: 1,861,912 and 1,682,112 shares at (8,108,000) (6,407,000) cost Less minimum pension liability adjust...
SUBSEQUENT EVENT. On February 3, 2016, the Partnership announced that MPC has offered to contribute its inland marine business in exchange for securities. The transaction closed on March 31, 2016.
