The rules of the Securities and Exchange Commission require that we disclose late filings of reports of stock ownership (and changes in stock ownership) by our directors and statutory insiders. To the best of the Company's knowledge, all of the filings for the Company's directors and statutory insiders were made on a timely basis in 2004 except as follows:
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o Each of Messrs. Doctor, Hartz, Manahan, Dr. Simone and Ms. Dedovich did not timely file on Form 4 the Company's grant of 10,000 shares of Common Stock on October 13, 2004 and December 29, 2004.
o Each of Messrs. Doctor, Hartz and Manahan did not timely file on Form 4 the Company's grant on October 4, 2004, of options to purchase 1,500,000 shares of Common Stock at an exercise price of $.30 per share, which expire on October 4, 2014.
o Each of Messrs. Doctor, Hartz and Manahan did not timely file on Form 4 the return to the Company on June 2, 2004, 1,986,466, 1,984,803 and 1,255,636 shares of Common Stock by Messrs. Doctor, Hartz and Manahan, respectively, as part of a transaction involving the sale of shares of Common Stock by the Company to a private investor. |
