Replies to post #20 on Exten Industries (fka BB: EXTI)

[Patricia_1]

SEC 8-K 11/18/03 Other Events

http://biz.yahoo.com/e/031118/exti.ob8-k.html

Form 8-K for EXTEN INDUSTRIES INC
18-Nov-2003

Other Events


ITEM 5. OTHER EVENTS
On November 17, 2003 Exten Industries, Inc. (Exten) filed an amended Form 10-KSB for its fiscal year ended November 30, 2002 and amended Form 10-QSB's for its quarters ending February 28, 2003 and May 31, 2003.

These statements were amended to correct the accounting treatment relative to the acquisition of MultiCell Associates, Inc. in the Cash Flow Statement for the fiscal year ending November 30, 2001 and to clarify certain verbiage as suggested by the SEC. There were no adjustments or changes to the Balance Sheet or Income Statement for the period ending November 30, 2001.

The specific nature of the adjustments to the Statement of Cash Flows were to reclassify $2,433,393 of cash used in operating activities related to license agreements and $1,450,000 of cash provided from financing activities for the purchase of Multicell Associates, Inc. to $750,000 of cash used in investing activities for the acquisition of license agreements, and cash used in operating activities related to changes in accounts payable and accrued liabilities ($233,343) and other assets ($50).

There were no adjustments or changes required to the financial statements in the Form 10-QSB's for the quarters ending subsequent to November 30, 2001 except to clarify certain verbiage as suggested by the SEC.