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. 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. 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.
SUBSEQUENT EVENT. The establishment of CRRC Financial Leasing Company through the contribution of capital by the Company, CRRC Group, 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 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. FC FINANCIAL SERVICES, INC. (A Development Stage Company) FINANCIAL STATEMENTS Balance Sheets F-1 Statements of Operations F-2 Statements of Cash Flows F-3 Statements of Stockholders’ Equity F-4 F-i F-ii (A Development Stage Company) (Expressed in US dollars) (unaudited) 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 (A Development Stage Company) (Expressed in US dollars) (unaudited) REVENUE Interest income 4,124 4,112 8 4,116 8 EXPENSES Consulting (Note 4(b)) 36,000 6,000 6,000 12,000 12,000 General and administrative expenses 80,796 6,130 8,835 12,081 29,378 Amortization 1,625 406 – 813 Interest expense 1,187 – 118 – 413 Total expenses 119,608 12,536 14,953 24,894 41,791 NET LOSS (115,484 ) (8,424 ) (14,945 ) (20,778 ) (41,783 ) NET LOSS PER SHARE – Basic and Diluted – – – – $ ( 0.01 ) Weighted Average Number of Common Shares Outstanding 31,049,000 5,871,000 30,887,000 5,440,000 (A Development Stage Company) (Expressed in US dollars) (unaudited) CASH FLOWS TO OPERATING ACTIVITIES Net loss (115,484 ) (20,778 ) (41,783 ) Adjustments to reconcile net loss to net cash used in operating activities Amortization 1,625 813 – Interest on loan receivable (4,110 ) (4,110 ) Donated services and rent 41,400 13,800 13,800 Changes in operating assets and liabilities Prepaid expenses (10,000 ) (10,000 ) – Accounts payable and accrued liabilities 4,098 (4,707 ) 3,001 Net Cash Used In Operating Activities (82,471 ) (24,982 ) (24,982 ) CASH FLOWS TO INVESTING ACTIVITIES L...
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 July 24, 2001, the Company announced plans to reduce expenses which included reducing full-time equivalent employees by approximately 30% through mandatory staff reductions. The Company will record an employee severance charge during the quarter ending September 30, 2001. ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Information herein contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by the use of forward-looking terminology such as "may," "will," "expect," "anticipate," "estimate," or "continue" or the negative thereof or other variations thereon or comparable terminology or which constitute projected financial information. The forward-looking statements relate to the near-term semiconductor capital equipment industry outlook, demand for our products, our quarterly revenue and earnings prospects for the near-term future and other matters contained herein. Such statements are based on current expectations and beliefs and involve a number of uncertainties and risks that could cause the actual results to differ materially from those projected. Such uncertainties and risks include, but are not limited to, the cyclicality of the semiconductor industry, impediments to customer acceptance, fluctuations in quarterly operating results, competitive pricing pressures, the introduction of competitor products having technological and/or pricing advantages, product volume and mix and other risks detailed from time to time in our SEC reports. For further information, refer to the business description and risk factors sections included in our Form 10-K for the year ended March 31, 2001, and the risk factors section included in this Form 10-Q (Part II, Item 5) as filed with the SEC. RESULTS OF OPERATIONS Tegal designs, manufactures, markets and services plasma etch systems used in the fabrication of integrated circuits, read-write heads for the disk drive industry, printer heads, telecommunications equipment and small flat panel displays. The following table sets forth certain financial items as a percentage of revenue for the three-month periods ended June 30, 2001 and 2000:
SUBSEQUENT EVENT. On February 27, 1998, Xx. Xxxxx X. Cook replaced the former chairman, president and chief executive officer of the Company. The provisions of the former executive's severance agreement and various stock options resulted in a first quarter 1998 expense charge of approximately $1,000,000, including a cash payment of approximately $650,000.
SUBSEQUENT EVENT. During July 2002, the Company acquired substantially all the net assets of Elm Packaging Company for $16,400. Elm produces polystyrene foam packaging products for the food and foodservice industries.
