CorVu Restates Fiscal 1999 Financials.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--June 30, 2000 CorVu Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CRVU) today released revised financial results for its 1999 fiscal year. As a result of discussions with the staff of the Securities and Exchange Commission relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc recently received comments on the Company's Form 10SB filing, the Company has restated its results of operations for the year ended June 30, 1999. The restatement reflects a non-cash charge Non-Cash Charge A charge off, made by a company against earnings, that does not require an initial outlay of cash. Notes: Non-cash charges are typically against the depreciation, amortization, and depletion accounts on a company's balance sheet. of $1,493,310 for common stock and warrants sold to a non-executive director A non-executive director (NED, also NXD) or outside director is a member of the board of directors of a company who does not form part of the executive management team. He or she is not an employee of the company or affiliated with it in any other way. at a price below the fair market value of the Company's common stock established in connection with the granting of stock options at that time. This restatement has no effect on the company's business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets or cash flow. The restatement results in an increase in the net loss for 1999 to $4,843,017 from the previously reported net loss of $3,349,716. The Company filed its response to the SEC Form 10SB comments on June 29, 2000. About CorVu Corporation CorVu is a global provider of Enterprise e-Business Performance Management and Balanced Scorecard Balanced Scorecard A performance metric used in strategic management to identify and improve various internal functions and their resulting external outcomes. The balanced scorecard attempts to measure and provide feedback to organizations in order to assist in implementing Solutions. CorVu solutions have helped thousands of companies merge business vision, shrewd industry and competitive analysis, and the right measurements to enable effective execution of strategy. Providing solutions designed to assist in efficiently allocating resources, strengthening competitive capabilities, installing strategy-supportive policies and managing core competencies to match market realities, CorVu builds accountability into every action and providing a consistent basis to react to real-time events. Thus, CorVu makes it easier to drive organisational change, achieve continuous improvement and exceed performance targets. More than 2500 customers, including companies such as American Express, British Airways, Mincom, Prudential, Ford Motor Company, Sara Lee, and Star-Kist Foods, have selected CorVu's Enterprise Business Performance Management and Balanced Scorecard solutions. For more information, please visit www.corvu.com or call 800 610-0769. CorVu is a registered trademark of CorVu Corporation. |
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