In February 1998, 1,000,000 shares of common stock of ZiaSun Technologies,
Inc., a publicly traded corporation, with an estimated fair market value of
approximately $2,125,000, were received from eight unrelated entities in
exchange for 4,100,000 shares of common stock of Loraca. This exchange does
not constitute significant ownership of ZiaSun Technologies, Inc. since Loraca
is only a minority shareholder and has no control of ZiaSun Technologies, Inc.
This transaction is purely for investment purposes and the common stock of
ZiaSun Technologies, Inc. has been classified as available-for-sale marketable
securities. The eight entities, which received 4,100,000 shares of common
stock of Loraca, are as follows:
Name No. of Shares
---- -------------
1. Bryant Cragun............................................. 47,700
2. Katori Consultants, Ltd. ................................. 585,700
3. New Age Publications...................................... 577,300
4. PT Pasifika Pratama Investindo............................ 569,000
5. Amber Global Ltd. ........................................ 582,400
6. Aragon Agents Ltd. ....................................... 584,000
7. Shang Holdings, Inc. ..................................... 584,900
8. Chelsea International Ltd. ............................... 569,000
---------
4,100,000
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