This may turn into a problem next month..... This is off page 19 of their filing.This stock can be registered to be sold next month and n October:
In September through October 1998, ProNetLink issued 4,210,000 shares
of Common Stock in private placements to three foreign companies pursuant to
exemptions from registration pursuant to Rule 504 of Regulation D under the Act.
The consideration received by ProNetLink was $842,000.
Then the company issued:
As of December 1998, under a Securities Exchange Agreement between
ProNetLink and Micheline Baron, ProNetLink issued 1,056,150 shares of Common
Stock, pursuant to an exemption from registration under Section 3(a)(9) or 4(2)
of the Act, to Ms. Baron in exchange for the surrender to ProNetLink by Ms.
Baron of a Promissory Note of ProNetLink in favor of Ms. Baron, which at such
time had an outstanding principal balance plus interest of $211,230.
This stock is eligable to be filed for sale in December.
Then the company issued:
In February 1999, ProNetLink issued 790,000 shares of Common Stock in
private placements to one foreign individual pursuant to exemptions from
registration pursuant to Rule 504 of Regulation D under the Act. The
consideration received by ProNetLink was $158,000.
This is eligable to be filed to be sold in February, 2000.
Then the company issued:
In February through April 1999, ProNetLink issued 5,000,000 shares of
Common Stock in private placements to three foreign individuals and one foreign
company pursuant to exemptions from registration pursuant to Rule 506 of
Regulation D or otherwise under Section 4(2) of the Act. The consideration
received by ProNetLink was $1,000,000.
This is all ready to be sold in April if they so choose. I am not siding with anyone, but if history is any judge, some, and who knows how much of this stock will be filed for sale. This has and always will be the biggest obstacle for this company. Trust me, .20 paper is going to be sold. I am not being a dick or siding with anyone, just understand that paper and will continue coming to market and the 1.4 million you guys all holdis no match for the paper that has comeout and is still waiting on the wings. I remeber GZ saying that people may file but it doesn't mean they have sold. Well, all he has to do is check his DTC sheet and his NOBO list and it will show if the stock is still there. So, if he says he doesn't know if they sold or not, he ain't quite telling the truth..... I really htink they are trying to build a real deal, they just have a really uphill climb because of the paper deals..... |
