As a shareholder, I was inclined to order an investigation:
The Apr 30, 1999 13-D names the reason why Mr. Feldman has been granted 2M shares in exchange for..., explicitely mentioning the Aug 17th transaction:
edgar-online.com
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The source and amount of funds or other consideration used by Mr. and Mrs. Feldman in acquiring 2,000,000 shares of the Common Stock was their investment in International Fidelity Holding Corporation, a Texas corporation, which was acquired by the Company in a stock-for-stock exchange approved by the Company's stockholders on August 17, 1998. The other 55,555 shares of Common Stock were acquired by Mr. Feldman when the Company converted debt owed to Mr.Feldman into such shares on February 25, 1999.
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but from the 8-K earlier:
edgar-online.com
Effective upon the closing of the Purchase Agreement, Sparks, Nelson and Caver, the sole shareholders of IFHC, became the beneficial owners of an aggregate 19,777,000 of the 20,000,000 outstanding and issued shares of Common Stock, which shares constitute 98.9% of the outstanding and issued shares of Common Stock.
and:
(b) There are no shares of IFHC Common Stock or other equity securities (whether or not such securities have voting rights) of IFHC issued or outstanding or any subscriptions, options, warrants, calls, rights, convertible securities or other agreements or commitments of any character obligating IFHC to issue, transfer or sell any shares of capital stock or other securities (whether or not such securities have voting rights) of IFHC.
There are no outstanding contractual obligations of IFHC which relate to the purchase, sale, issuance, repurchase, redemption, acquisition, transfer, disposition, holding or voting of any shares of capital stock or other securities of ISCC.
Here, the documents contradict themselves. It regards quite a number of shares. I am eager to await any answer from an upcoming UAI helm... |
