This excerpt taken from the NTEC 8-K filed Nov 2, 2005.
Item 2.06 Material Impairments.
At the time the Prior Form 8-K was filed, the Company was not able to estimate the amounts of non-cash property and equipment impairment charges expected to be recorded in relation ot the Plan of Restructuring. Based on its analysis to date, the Company has determined that non-cash property and equipment impairment charges amount to $13,187,000. These charges have been recorded in the Company's financial statements for the quarter ended September 30, 2005.
Neose “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Statements in this Current Report on Form 8-K regarding the Company’s business that are not historical facts, including, but not limited to, statements regarding the restructuring and the timing and amount of restructuring charges, write-downs and impairment charges that the Company expects to incur in connection with the restructuring, are “forward-looking statements” that involve risks and uncertainties, including without limitation the risk that the Company will incur unexpected charges or will have unexpected expenditures related to the restructuring upon the completion of further analysis with respect to the restructuring generally and the Company’s assets specifically . For a discussion of these risks and uncertainties, any of which could cause the Company’s actual results to differ from those contained in the forward-looking statement, see the section of Neose’s Annual Report on Form 10-K for the year ended December 31, 2004, entitled “Factors Affecting the Company’s Prospects” and discussions of potential risks and uncertainties in the Company’s subsequent filings with the SEC.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.