IBIZ Technology Corp (fka IBZT)

[Jim Bishop]

That's an amendment of a previous filing. Here's the important part:

"3. RESTATEMENT OF PREVIOUSLY REPORTED FISCAL 2004 INTERIM FINANCIAL STATEMENTS

The accompanying condensed consolidated financial statements have been restated to correct an error in the condensed consolidated financial statements that were included in the Company's Form 10-QSB for the fiscal 2004 first quarter ended January 31, 2004 as filed with the U.S. Securities and Exchange Commission ("SEC"). The detail of this restatement follows:

The restatement pertains to the accounting previously applied by the Company to its January 20, 2004 acquisition of Synosphere, LLC (See Note 5 for further details). As previously reported, certain acquired technology-related assets with an aggregate assigned fair value of $1,200,000 were initially capitalized and reflected as Patents and Technology on the Company's post-acquisition interim condensed consolidated balance sheet at January 31, 2004. Subsequently, it was determined by the Company's management that the technological feasibility of these acquired assets had, in fact, not been sufficiently established prior to the acquisition date in order to justify their capitalization. As restated herein, these previously reported acquired assets have been eliminated from the Company's interim condensed consolidated balance sheet at January 31, 2004 and instead immediately expensed as acquired in-process research and development as now reflected in the Company's interim condensed consolidated statement of loss for the three months ended January 31, 2004."

http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001144204%2D04%2D020880%2Etxt&FilePath...