EX-99.1 2 w02139exv99w1.htm EXHIBIT 99.1 exv99w1
 

Exhibit 99.1

Effect of the restatements on the consolidated statements of operations
(in thousands of dollars except per share amounts)
(per share information reported on a post 20:1 stock consolidation basis for all periods shown. Stock consolidation enacted in the fourth quarter of 2003)

                                                 
    Three months   Three months   Three months   Three months   Three months   Three months
    ended   ended   ended   ended   ended   ended
    Dec. 31, 2002   March 31, 2003   June 30, 2003   Sept. 30, 2003   Dec. 31, 2003   March 31, 2004
Net income (loss) as currently reported on Form 10-K or 10-Q
   $ (11,117 )   $ (14,895 )   $ (3,713 )   $ (3,257 )   $ (4,456 )   $ 594  
Correction of EITF 00-27 errors
     (301 )     (902 )     (1,089 )     (1,337 )     (1,779 )     (1,801 )
Net loss as expected to be reported on revised Form 10-K or 10-Q
   $
(11,418		 )   $
(15,797		 )   $
(4,802		 )   $
(4,594		 )   $
(6,235		 )   $
(1,207		 )
 
    
 		      
 		      
 		      
 		      
 		      
 		  
Net income (loss) per share as currently reported on Form 10-K or 10-Q
   $ (1.92 )   $ (2.55 )   $ (0.64 )   $ (0.56 )   $ (0.44 )   $ 0.03  
 
    
 		      
 		      
 		      
 		      
 		      
 		  
Net loss per share as expected to be reported on revised Form 10-K or 10-Q
   $ (1.96 )   $ (2.71 )   $ (0.82 )   $ (0.79 )   $ (0.59 )   $ (0.06 )
 
    
 		      
 		      
 		      
 		      
 		      
 		  

Effect of the restatements on the consolidated balance sheets
(in thousands of dollars)

                                                 
 
   As at   As at   As at   As at   As at   As at
 
   Dec. 31, 2002   March 31, 2003   June 30, 2003   Sept. 30, 2003   Dec. 31, 2003   March 31, 2004
Notes payable to a related party:
                                                
As currently reported on Form 10-K or 10-Q
   $ 30,058     $ 30,496     $ 30,985     $ 33,483     $ 35,073     $ 41,060  
Correction of EITF 00-27 errors
     (6,109 )     (5,364 )     (4,437 )     (3,265 )     (6,356 )     (4,834 )
As expected to be reported on revised Form 10-K or 10-Q
   $
23,949		     $
25,132		     $
26,548		     $
30,218		     $
28,717		     $
36,226		  
 
    
 		      
 		      
 		      
 		      
 		      
 		  
Additional paid-in capital:
                                                
As currently reported on Form 10-K or 10-Q
   $ 129,553     $ 129,553     $ 129,618     $ 129,618     $ 171,115     $ 171,192  
Correction of EITF 00-27 errors
     6,410       6,567       6,729       6,894       11,764       12,043  
As expected to be reported on revised Form 10-K or 10-Q
   $
135,963		     $
136,120		     $
136,347		     $
136,512		     $
182,879		     $
183,235		  
 
    
 		      
 		      
 		      
 		      
 		      
 		  
Accumulated deficit
As currently reported on Form 10-K or 10-Q
   $ (194,301 )   $ (209,196 )   $ (212,909 )   $ (216,166 )   $ (220,622 )   $ (220,028 )
Correction of EITF 00-27 errors
     (301 )     (1,203 )     (2,292 )     (3,629 )     (5,408 )     (7,209 )
As expected to be reported on revised Form 10-K or 10-Q
   $
(194,602		 )   $
(210,399		 )   $
(215,201		 )   $
(219,795		 )   $
(226,030		 )   $
(227,237		 )
 
    
 		      
 		      
 		      
 		      
 		      
 		  
Stockholders’ equity (deficit):
                                                
As currently reported on Form 10-K or 10-Q
   $ (63,925 )   $ (78,820 )   $ (82,468 )   $ (85,725 )   $ (49,309 )   $ (47,292 )
Correction of EITF 00-27 errors
     6,109       5,364       4,437       3,265       6,356       4,834  
As expected to be reported on revised Form 10-K or 10-Q
   $
(57,816		 )   $
(73,456		 )   $
(78,031		 )   $
(82,460		 )   $
(42,953		 )   $
(42,458		 )