For starters, it would be interesting to know how many shares are currently outstanding. The last Form 10-Q, which was filed on November 14, 1996, reports that there were 7,992,050 shares of HTEH outstanding as of September 30, 1996.
A Form 8-K which was filed on December 18, 1996 discloses, amongst other items, a change in control. A group led by Larry Stockett purchased 6,793,243 shares of HTEH in a private transaction. The purchase price was $160,000, or $.0236 per share.
Acording to a Form SC 13D that was filed on December 18, 1996, Stockett purchased 4,793,243 of these shares, giving him an ownership interest of approximately 60%.
The Form 8-K also discloses that HTEH had been granted an option to purchase 100% of IPO Network for 2,000,000 shares. OTC Emerging Fund, Inc., 67% owned by Stockett, was to receive 1,600,000 shares of HTEH. Stockett personally owned 5% of IPO Network and presumably received another 100,000 shares for his interest.
I have no idea how many shares have been issued subsequent to the acquisition of IPO Network.
The August 30, 1999 press release does not disclose how many shares will be issued for the acquisition of U.S. Cement Company, but it does imply that Stockett will have a 60% interest in HTEH after the transaction is completed. Stockett founded U.S. Cement Company and I would have to assume that he is its sole or majority shareholder.
Form 10-Q for quarter ending September 30, 1996
sec.gov
Form 8-K filed December 18, 1996
sec.gov
Form SC 13D filed December 18, 1996
sec.gov |
