Floyd: This should clear this up:
FYI ,the filing you have for transaction #3 from 10k wizard may have led you to a wrong conclusion.....Transaction #3: In July 1997 the Company authorized the private placement
of 2,000,000 (post-split adjusted) shares of the Company's common
stock at a price of $2.50 per share. The Company sold a total of
259,988 (post-split adjusted) shares and received $324,984 in cash
from this private placement.
Now all the 10SB(s) from free edgar have the July '97 placement shares at 1,000,000 not 2,000,000. It has the sold shares at exactly half also. The cash netted is the same. Thus 129,994 shares sold X 2.50 equals 324,998 cash. So you see it appears the 2,000,000 shares offered by IAM (page 4 in your fortunecity display) are not from this private placement you are talking about............Besides the placement was in JULY not MAY. May comes before July, how can they offer July's placement to be delivered in May (bottom of page 4 in your fortunecity display)? Seems impossible!
Check the numbers and the dates again!!!!!!!!!!!!!!!!
Coach |
