I guess these are the sellers. All profit for them. Hope selling ends soon.
Jun 96 - 170,100 shares for $851 or .005/share to 25 purchasers.
Oct 98 - 2,997,400 shares for $29,774 or .01/share to 20 offshore inv
Nov 98 - 200,000 shares for $2,000 or .01/shares to 7 investors
Total 3,367,500 shares
Dec 98 - 640,000 shares for $960,000 or $1.50/share to 2 investors
From the Form: 10SB12G:
B. COMMON STOCK (shares adjusted to reflect a 1-for-10 reverse stock split which occurred in October 1998).
1. June 1996: 170,100 shares of common stock were sold for cash in the aggregate amount of $851 without underwriters to 25 purchasers, most of whom were individuals. The sales were made in reliance upon the exemption from registration afforded by Section 4(2) of the 1933 Act and Rule 504 of Regulation D thereunder.
2. October 1998: 2,997,400 shares of common stock were sold for cash in the aggregate amount of $29,974 without an underwriter to 10 offshore investors. The sales were made in reliance upon the exemption from registration afforded by Section 4(2) of the 1933 Act and Rule 504 of Regulation D thereunder.
3. November 1998: 200,000 shares of common stock were sold for cash in the aggregate amount of $2,000 without underwriters to 7 investors. The sales were made in reliance upon the exemption from registration afforded by Section 4(2) of the 1933 Act and Rule 504 of Regulation D thereunder.
4. November 1998: 5,213,835 shares of common stock were exchanged for all of the outstanding capital stock of MDU Communications Inc., a Canadian corporation, which is now a wholly owned subsidiary of the Company. The former MDU Communications Inc. stockholders are the holders of those shares. No underwriter was involved in the transaction. The sales were made in reliance upon the exemption from registration afforded by Section 4(2)
of the 1933 Act.
5. December 1998: 640,000 shares of common stock were issued for cash in the aggregate amount of $960,000 upon exercise of options held by two investors. The options and the common stock issued upon exercise of the options involved no underwriters and were done in reliance upon the exemption from registration afforded by Section 4(2) of the 1933 Act and Rule 504 of Regulation D thereunder. |
