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Sam, in your attempt to count up the shares, you added 28 million shares for "gordo options." As of 12/31/98, R.Gordon had no options per the 10KSB. If you are referring to the potential number of shares Gordon could convert $4 million of loan into under the Revolving Credit Loan Agreement, I can see no reason to add the 26.6 million shares to the authorized, issued, or outstanding share count. As of 3/31/99, TSIG owed Gordon approximately $150,000 per the 10QSB. The 26.6 million shares refers to "potential" ownership, not "actual" ownership, and would not affect the authorized, issued, or outstanding share count, IMO. Regards, Suzanne |
