text: ( 4 4 3 ) 
  
  ( 1 , 7 0 0 ) 
  1 7 6. 
  ( 5 , 9 2 4 ) 
  
  Actual income tax benefit/(expense)  $  4 , 1 82 . 
  
  As a result of the formation of the Company a portion of the stock compensation cost re c o rded in 1996 became a temporary diff e rence for 
  which the Company recognized a gross deferred tax asset of $1.4 million in 1997. A valuation allowance for this deferred tax asset was 
  established. During 1997, certain of the stock options were exercised resulting in a tax deduction of $1.0 million. Because of the tax loss 
  position of the Company in 1997 in the United States, this tax deduction was not utilized and increased the tax loss carry f o rw a rd. The 
  Company established a valuation allowance for the deferred tax asset resulting from the tax loss carry f o rw a rd in the United States. This tax 
  loss carry f o rw a rd was utilized in 1998 and there f o re, $951,553 of the tax benefit was re c o rded as an adjustment to additional paid in capital. 