Navigation Links
Z Trim Holdings Reports Restatement of Previously Issued Financial Statements; Amends Bylaws
Date:11/1/2007

the Shemesh/Tobian Shares. Through that date, the Company had recognized $765,324.75 of expense relating to the contract. Accordingly, at September 30, 2005 the Company wrote off the remaining $1,012,175.25 against paid-in-capital.

Shemesh and Tobian disputed the Company's basis for rescinding the contract and because they were referred to the Company by Farhad Zaghi, the Company's purported rescission became an issue in the Company's ongoing litigation with Zaghi and his affiliates. In order to eliminate one of the issues of contention between the parties and facilitate further settlement negotiations with Zaghi, on March 9, 2007, the Company released the stop order on the Shemesh/Tobian Shares and allowed the shares to be traded. Because the Company previously had recorded a write-off against paid-in-capital associated with the Shemesh/Tobian Shares, upon lifting the stop order the Company should have re-expensed the Shemesh/Tobian Shares.

Expected Impact of the Restatement.

The Company will recognize an expense to investor relations of $1,012,175.25 as of March 9, 2007 and will restate its financial statements for the quarters ended March 31, 2007 and June 30, 2007 accordingly. As a result of this additional expense, the Company will realize an additional loss of $0.02 per share for the quarter ended March 31 (for a total loss per share of $0.04 for that period) and an additional loss of $0.02 per share for the six months ended June 30 (for a total loss per share of $0.08 for that period). The Company intends to amend its Quarterly Reports on Form 10-Q for the applicable periods prior to filing its third quarter 10-Q on or prior to November 19, 2007.

Additional Restatements Possible.

On August 23, 2007, the Company announced it was conducting an audit of certain accounting and financial reporting practices in connection with the Company's receipt of a deficiency letter from the American Stock Exchange. That audit is not complete and
'/>"/>

SOURCE Z Trim Holdings, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Page: 1 2 3 4 5

Related medicine news :

1. Autopsy reports could be valuable and informative
2. China reports declining number of SARS Cases
3. Russia Reports First SARS Case
4. Research reports that c-section deliveries are rising
5. Jharkhand reports 13,000 Malaria cases
6. Uganda Reports Failure To Contain Sleeping Sickness
7. WHO reports 36 million deaths world wide due to chronic diseases
8. Reports of Hantavirus infection in India raise concerns
9. Controversy Surrounding The HIV Positive Reports Of One-Year Girl In Kerala
10. China Reports Yet Another Bird Flu Case
11. China reports seventh bird flu victim
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/17/2014)... 2014 For electronic publishing expert eBooks2go, ... down to a miraculous connection and precision timing. This ... while, but over the past three decades, Ms. Wixom ... was finding it rather tedious to expand her readership ... A phone call, an anniversary, and a second-place trophy ...
(Date:9/17/2014)... Wa (PRWEB) September 17, 2014 Diabetes ... by the Telegraph in August 2014, scientists made ... for diabetes, but still failed. The article indicates that ... Despite this existing fact, there are many forward-thinking entrepreneurs ... diabetes treatment in a natural way. Dr. Kenneth Pullman ...
(Date:9/17/2014)... ICS Learning Group, Inc. won a coveted ... for the Best Use of Games and Simulations for ... operational safety training module that ICS developed for one ... an approach that combined realistic 3D simulation with gamification, ... to a video game, including competition among trainees, to ...
(Date:9/17/2014)... (PRWEB) September 17, 2014 Health.Verticalize, a ... people explore their health insurance options in the 2014 ... Network. , Moving forward Health Network ... website. The company has intentionally remained out of the ... network from a single website to its present position ...
(Date:9/16/2014)... Recently, BamboofloorChina.com, the popular online supplier ... of strand woven bamboo floors to its ... big promotion for the new items; the current discount ... is a great shopping season. Therefore, BamboofloorChina.com spares no ... new customers. All practical items offered by BamboofloorChina.com are ...
Breaking Medicine News(10 mins):Health News:Versatile Author Wixom Forges Lasting Relationship with Digital Virtuoso eBooks2go 2Health News:Versatile Author Wixom Forges Lasting Relationship with Digital Virtuoso eBooks2go 3Health News:Versatile Author Wixom Forges Lasting Relationship with Digital Virtuoso eBooks2go 4Health News:Discover a Safe and Effective Treatment for Diabetes with The Diabetes Protocol – Vinamy 2Health News:ICS Learning Group Wins Gold in the 2014 Brandon Hall Excellence Competition for Best Use of Games and Simulations for Learning 2Health News:Health.Verticalize Rebrands as Health Network After Growing to 15 Million Users in Less Than One Year 2Health News:Health.Verticalize Rebrands as Health Network After Growing to 15 Million Users in Less Than One Year 3Health News:BamboofloorChina.com Announces Its Promotion For Strand Woven Bamboo Floors 2
... , EMERYVILLE, Calif., Sept. 21 Bionovo, Inc. (Nasdaq: ... the company received a letter from NASDAQ stating that, for the ... stock has closed below the minimum $1.00 per share requirement for ... that the company has been provided a period of 180 calendar ...
... , , , ... Medical, Inc. has made a $15 million equity investment in the company. ... officer of Micell, said, "We are excited to have a company of ... forward to collaborating with them to expand the use of our coating ...
... , , BELMONT, Calif., ... focused on improving the lives of patients with sleep-disordered breathing, ... the Runners-Up Award in The Wall Street Journal ... were published in the September 14, 2009 edition of ...
... results seen with both open surgery and minimally invasive ... -- Successful repair of nasal fractures is possible using ... long as the procedure is appropriate for the type ... be selected by taking into account factors such as ...
... American Gastroenterological Association (AGA) Foundation for Digestive Health and ... businessman and photographer, Bernard Lee Schwartz, has honored his ... for pancreatic cancer research. The $225,000 gift from the ... with funding and protected time for three years to ...
... A multicenter study in Asia found drug-eluting stents ... patients with chronic total occlusions (CTOs) undergoing PCI. Results ... annual Transcatheter Cardiovascular Therapeutics (TCT) scientific symposium, sponsored by ... the study, "Drug-Eluting Stents for the Treatment of Chronic ...
Cached Medicine News:Health News:Bionovo Notified by NASDAQ of Minimum Bid Price Deficiency 2Health News:Bionovo Notified by NASDAQ of Minimum Bid Price Deficiency 3Health News:Ventus Medical Announces PROVENT(R) Sleep Apnea Therapy Recognized by The Wall Street Journal 2009 Technology Innovation Awards 2Health News:Ventus Medical Announces PROVENT(R) Sleep Apnea Therapy Recognized by The Wall Street Journal 2009 Technology Innovation Awards 3Health News:Best Option for Fractured Nose Varies by Patient 2Health News:California family honors father with second AGA Foundation Research Scholar Award 2Health News:Drug-eluting stents safe, effective for treatment of chronic total occlusions 2
(Date:9/16/2014)... , Sept. 16, 2014  Denovo Biopharma, LLC, ... late-stage oncology drug, from Eli Lilly and Company ... manufacture and commercialize enzastaurin globally, including transfer of ... information. Lilly developed enzastaurin in ... and Phase 3 clinical trials for diffuse large ...
(Date:9/16/2014)... Wash. , Sept. 16, 2014 /PRNewswire/ ... a late stage development company engaged primarily ... medical isotopes for diagnostic and therapeutic applications, ... for technology related to its brachytherapy products.  ... arise from its license from Battelle, under ...
(Date:9/16/2014)... -- Russia,s pharmaceutical ... Pharma 2020 Strategy provides incentives for local producers to ... foreign markets. These trends, however, were affected by recent ... political and economic sanctions imposed on Russia ... Russia responded to the US ...
Breaking Medicine Technology:Denovo Biopharma Acquires Late-Stage Oncology Drug From lilly For Development As A Personalized Medicine 2Advanced Medical Isotope Corporation Licensed Brachytherapy Seed Patent Granted 2Advanced Medical Isotope Corporation Licensed Brachytherapy Seed Patent Granted 3Advanced Medical Isotope Corporation Licensed Brachytherapy Seed Patent Granted 4Global Medicines for Russia 2
... thin collagen coated highly compliant ... thin wall construction offers optimal ... Hemacarotid UltraThin Patch provides superb ... and healing, without suture hole ...
The VasoSeal Low Profile device is designed for smaller sheath angiography procedures. VasoSeal Low Profile. Seal your arterial punctures with confidence....
D-Stat Radial is a dry version of the D-Stat together with a compression band, and is designed for the control of surface bleeding from vascular access sites, including the sites on the radial artery...
... engineered to close arteriotomies with ease ... with a simple trigger actvated mechanism, ... deliver sheath gently locks onto the ... the site before, during, and after ...
Medicine Products: