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The following is an excerpt from a 10-K405 SEC Filing, filed by COMPREHENSIVE CARE CORP on 8/25/2000.
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COMPREHENSIVE CARE CORP - 10-K405 - 20000825 - STOCKHOLDERS_EQUITY

COMPREHENSIVE CARE CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT
(IN THOUSANDS)

                                               PREFERRED STOCK    COMMON STOCK  ADDITIONAL                               TOTAL
                                               --------------- ----------------  PAID-IN   ACCUMULATED    DEFERRED    STOCKHOLDERS'
                                               SHARES   AMOUNT SHARES    AMOUNT  CAPITAL     DEFICIT    COMPENSATION     DEFICIT
                                               ------  ------- -------  ------- ---------- -----------  ------------- ------------

BALANCE, MAY 31, 1997 .........................  41    $ 2,094   3,428     $34  $ 48,888   $(54,586)      $ --        $ (3,570)
   Net Income .................................  --         --      --      --        --      1,971         --           1,971
   Adjust shares issued for the HMS acquisition  --         --      (6)     --      (138)        --         --            (138)
   Exercise of stock options ..................  --         --      44      --       451         --         --             451
   Dividends on preferred stock ...............  --         82      --      --        --        (82)        --              --
   Cancellation of CEO restricted grant .......  --         --     (51)     --        --         --         --              --
                                                ---    -------  ------     ---  --------   --------       ----        --------
BALANCE, MAY 31, 1998 .........................  41    $ 2,176   3,415     $34  $ 49,201   $(52,697)      $ --        $ (1,286)
   Net loss ...................................  --         --      --      --        --     (3,994)        --          (3,994)
   Adjust shares issued for the HMS acquisition  --         --      --      --       (94)        --         --             (94)
   Exercise of stock options ..................  --         --      22      --       155         --         --             155
   Dividends on preferred stock ...............  --         55      --      --        --        (55)        --              --
   Shares issued for preferred stock conversion (41)    (2,231)    344       4     2,227         --         --              --
   Shares issued for debenture exchange offer .  --         --      37      --       305         --         --             305
                                                ---    -------  ------     ---  --------   --------       ----        --------
BALANCE, MAY 31, 1999 .........................  --    $    --   3,818     $38  $ 51,794   $(56,746)      $ --        $ (4,914)
   Net loss ...................................  --         --      --      --        --     (5,766)        --          (5,766)
   Compensatory stock options granted .........  --         --      --      --        18         --        (18)             --
   Amortization of deferred compensation ......  --         --      --      --        --         --          8               8
                                                ---    -------  ------     ---  --------   --------       ----        --------
BALANCE, MAY 31, 2000 .........................  --    $    --   3,818     $38  $ 51,812   $(62,512)      $(10)       $(10,672)
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