Audiovox 2004 Annual Report Download - page 143

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Audiovox Specialized Applications, LLC And Subsidiary
Notes To Financial Statements
Note 9. Litigation
The Company has pending legal proceedings that generally involve product
liability and employment issues. These proceedings are, in the opinion of
management, ordinary routine matters incidental to the normal business conducted
by the Company. In the opinion of management the ultimate disposition of such
proceedings are not expected to have a material adverse effect on the Company's
consolidated financial position, results of operations or cash flows.
Note 10. Cash Flows Information
Supplemental information relative to the statements of cash flows for the years
ended November 30, 2004, 2003, and 2002 is as follows:
2004 2003 2002
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
Supplemental disclosures of cash flows information:
Cash payments for interest $ 1,275 $ 752 $ 288
============== ========== ==========
Supplemental schedule of noncash investing and
financing activities:
Acquisition of Datron Corporation, March 2002:
Accounts receivable $ − $ − $ 506,000
Inventory − − 1,832,000
Equipment − − 362,000
Goodwill − − 300,000
−−−−−−−−−−−−−− −−−−−−−−−− −−−−−−−−−−
Net cash $ − $ − $3,000,000
============== ========== ==========
Valuation of trademark rights adjustment $ 356,260 $ − $ −
============== ========== ==========
Exhibit 99.1
14
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