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Technology Stocks : OnSale Inc.
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To: Don Wellington Jr. who wrote (4888)11/26/1999 5:32:00 PM
From: RockyBalboa  Read Replies (1) of 4903
 
Egghead Management at the Merger meeting Nov. 4th, the additional shares were needed to even out all employee's stock option plans.

Interesting reasoning. I always though that it is sufficient
-to file an S-8, or Amended S-8 dscribing the employee options plan.
-to check and, if necessary, increase the "authorized shares" so that a subsequent registration of the (from time to time) vesting shares is covered.

The reasoning to do a secondary offering because of an options plan is at least funny (if not an outright humbug).

Or, have you asked the wrong question. Has the management answered a question regarding the "authorized shares".

???????
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