Einstein Bros 2002 Annual Report Download - page 60

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http://www.sec.gov/Archives/edgar/data/949373/000104746903027186/a2116520z10-ka.htm[9/11/2014 10:14:22 AM]
effective dividend rate will be applied prospectively as of the beginning of such reporting period.
As of December 31, 2000, the components of Series D preferred stock were included in the accompanying balance sheet as originally recorded
and as restated as follows:
As Reported
As Restated
(amounts in thousands)
Proceeds from issuance of Series D preferred stock $ 15,000 $ 15,000
Fees and commissions (622) (538)
Discount attributable to initial and future warrants (3,234) (3,572)
Accretion of warrant value and dividends 864 1,750
$ 12,008 $ 12,640
F-22
The following table presents the impact of the restatements for fiscal 2000 on a condensed basis:
As Previously
Reported
Fiscal 2000
As Restated
Fiscal 2000
(amounts in thousands, except per share data)
Balance Sheet:
Current assets $ 27,603 $ 20,996
Total assets 65,699 49,220
Current liabilities 11,076 22,098
Total liabilities 26,958 25,613
Series D Preferred Stock 12,008 12,640
Common stock 15 15
Additional paid-in capital 45,181 45,737
Unrealized loss in fair value of investments — (4,742)
Accumulated Deficit (18,463) (30, 043)
Total stockholders' equity 26,733 10,967
Statement of Operations:
Total revenues 45,723 43,078
Cost of sales 31,045 30,138
General and administrative expenses 6,694 12,733
Depreciation and amortization 2,774 2,254
Impairment charge in connection with the realization of assets — 1,076
Income (loss) from operations 5,210 (3,123)
Interest expense (1,960) (2,076)
Income (loss) before income taxes 2,911 (5,538)
Income tax benefit (3,100) —
Net income/(loss) 6,011 (5,538)
Dividends and accretion on preferred stock (2,128) (2,373)
Net income/(loss) available to common Stockholders 3,883 (7,911)
Earnings/(loss) per share basic .32 (.63)
Earnings/(loss) per share fully diluted .29 (.63)
F-23
C. Restatement of Fiscal 2001 Financial Statements