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Item 5. Interest in Securities of the Issuer
(a) As of the date of this Statement, Mr. Pappajohn
beneficially owned an aggregate of 3,475,218 shares of Common
Stock,(assuming the conversion of 1,250,000 shares of Series A
Preferred Stock into 2,500,000 shares of Common Stock) and
Warrants to purchase another 1,642,487 shares of Common Stock.
Such shares of Common Stock and the Warrants represent 40.25% of
the outstanding Common Stock of the Company based upon 12,714,271
shares of Common Stock actually outstanding as of July 20, 1999,
assuming conversion of all of the Series A Preferred Stock and
Pappajohn's Warrants into Common Stock.
(b) Mr. Pappajohn has sole power to vote or direct the vote
and sole power to dispose or direct the disposition of all shares
of Common Stock and Series A Preferred Stock that he owns.
(c) On July 20, 1999 Mr. Pappajohn purchased 466,699 Shares
of Common Stock, 625,000 shares of Series A Preferred Stock, and
Warrants to purchase another 369,320 shares of Common Stock for an
aggregate price of $268,750.
(d - e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of Issuer
Not applicable.
Item 7. Material to be Filed as Exhibits
Not applicable.
Item 8. Certification and Signature:
After reasonable inquiry and to the best of my knowledge and
belief, the undersigned certifies that the information set forth
in this Statement is true, complete and correct.
Dated: July 28, 1999
/s/ John Pappajohn
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John Pappajohn |
