Amanda,
Where are you getting the figure 69 million shares outstanding?
If you haven't already read IZP's prospectus then you should. You can find directions at this site: Message 10295016
For information on shares outstanding go to page 6. As of mid June/99.
Common Shares.....32,004,628
Preferred Shares....11,185,814
Warrants.................4,664,377
Options...................2,237,000
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Fully Diluted.........46,413,263 (1)
Note:
(1) Up to 7,507,258 common shares are issuable upon conversion of the 11,185,814 preferred shares Series 1, issued to HMR.
Mr. McBeath stated in yesterdays release that the conversion of HMR's preferred shares might occur 2 or 3 years hence. Lets hope IZP can generate enough interest to pump the share price over $9. Canadian thus minimize any dilution.
Also important to note, HMR's preferred shares will nearly double as IZP draws on the funds remaining. The nearly 22,000,000 preferred share will translate into a maximum of approximately 15 million common shares. If IZP trades over $9 at the time of conversion then HMR will receive slightly under 3 million common shares.
I hope I have this correct.
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