Info from the S-8
Outstanding Convertible Notes. As of December 31, 1998, we had outstanding approximately $6,474,000 principal amount of convertible notes due April 21, 2000. If we are unable to repay, refinance or renegotiate the terms of the notes, our ability to continue our operations may be materially and adversely effected.
Shares Eligible for Future Sale. We cannot give you any assurance as to the effect, if any, that future sales of common stock, or the availability of shares of common stock for future sales, will have on the market price of the common stock from time to time. Sales of substantial amounts of common stock, or the possibility of such sales, could adversely affect the market price of the common
stock and also impair our ability to raise capital through an offering of equity securities in the future. As of December 31, 1998, there were 66,091,889 shares of common stock outstanding of which 2,934,962 shares are restricted securities.
An additional 6,963,128 shares are issuable upon conversion of convertible notes, at an assumed conversion price of $0.9297 per share.
5,382,750 shares are issuable upon exercise of stock options granted
pursuant to our employee stock option plans at exercise prices ranging
from $.50 to $2.00 per share. 5,390,152 shares are issuable upon exercise of warrants having exercise prices ranging from $.40 to $2.76 per share.
Dr. Risk, which way will the run go? I think the hypsters are hyping wolf!
KT
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