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rwk

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rwk

Re: SPIN post# 4514

Thursday, 08/07/2003 11:24:34 AM

Thursday, August 07, 2003 11:24:34 AM

Post# of 249133
SPIN/ "income"

you wrote:

when they are converted (NOT if, IMO), wave realizes income ($1.13/sh).

The monies raised are not income, rather they are share capital and thus fall into the balance sheet, not the income statement. Most importantly, there are no income taxes due on the monies.


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