Date
of Report (Date of earliest event reported)
|
May
20, 2008
|
Delaware
|
000-22009
|
77-0344424
|
||
(State
or other jurisdiction of incorporation)
|
(Commission
File Number)
|
(IRS
Employer
Identification
No.)
|
3250
Jay Street, Santa Clara, California
|
95054
|
|
(Address
of principal executive offices)
|
(Zip
Code)
|
Registrant’s
telephone number, including area code
|
(408)
988-7020
|
Not
Applicable
|
|
(Former
name or former address, if changed since last
report)
|
o |
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
|
o |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
o |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
|
o |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
|
·
|
Stock-based
compensation expenses - These expenses represent the amortization
of the
fair value of share-based payments made to employees and members
of our
board of directors in the form of stock options and purchases under
the
employee stock purchase plan in accordance with Statement of Financial
Accounting Standards (“SFAS”) No. 123 (R). The Company excludes
stock-based compensation expenses for its non-GAAP measures primarily
because they are non-cash expenses that NeoMagic does not believe
are
reflective of ongoing operating results. Further, the Company believes
that it is useful to investors to understand the impact of the application
of SFAS 123(R) to its results of
operations.
|
·
|
Gain
on sale of patents - This gain represents net proceeds from the sale
of
selected patents pursuant to a patent purchase agreement. NeoMagic
excludes this gain for its non-GAAP measures because the Company
believes
it is not reflective of ongoing operating
results.
|
·
|
Gain
(Loss) from change in fair value of warrant liability - The Company
is
required to revalue the warrants from its December 2006 issuance
of common
stock and warrants at the end of each reporting period with the change
in
value reported in the statement of operations as a gain (loss) from
change
in fair value of warrant liability. The Company excludes these gains
and
losses for its non-GAAP measures since they are non-cash and NeoMagic
does
not believe they are reflective of ongoing operating
results.
|
99.1 |
Press
Release of NeoMagic Corporation dated May 20, 2008
|
NeoMagic
Corporation
|
|||
(Registrant)
|
|||
Date:
May
20, 2008
|
/s/
Steven P. Berry
|
||
Steven
P. Berry
|
|||
Chief
Financial Officer
|
Exhibit No.
|
Description
|
|
99.1
|
Press
Release of NeoMagic Corporation dated May 20,
2008.
|