There wouldn't be a listing of hotzone as an asset. Guess your memory is failing, that was one of the resaons for restating and what the SEC found wrong.
from the SEC complaint
Therefore, proper accounting under GAAP required that GlobeTel record the entire amount it paid Hotzone at the time it acquired the "in process"research and development project as an expense rather than capitalizing it as an intangible asset
Don't let your prejudices, assumptions and ego cause you to come to conclusions which on the surface seem sound and correct but in reality are flawed
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.