In January and February 2000, we sold to seven accredited investors 208,823
shares of common stock at a price of $.85 per share, for an aggregate price of
$177,500, in a private placement made pursuant to the exemption from
registration provided by Section 4(2) and 4(6) of the Securities Act and Rule
506 of Regulation D promulgated under the Securities Act.
In February 2000, we sold to one accredited investor 343,000 shares of
common stock at a price of $1.00 per share for an aggregate price of $343,000,
in a private placement made pursuant to the exemption from registration provided
by Section 3(b) and Rule 504 of the Securities Act and Section 203(t) of the
Pennsylvania Securities Act of 1972.
In February 2000, we issued 280,000 shares of common stock to a director,
J. Larry Hineline, who exercised certain stock options at a price of $.51 per
share for 250,000 shares, $1.02 per share for 15,000 shares and $.01 per share
for 15,000 shares, for an aggregate price of $142,950. This issuance was in
reliance on the exemption from registration under Section 4(2) and 4(6) of the
Securities Act.
In March, April, May and June 1998, we sold to 23 non-accredited and 16
accredited investors 728,000 shares of common stock for an aggregate price of
$364,000 ($.50 per share) in a private placement made pursuant to the exemption
from registration provided by Section 3(b) and Rule 504.
In October 1998 we issued 400,000 shares of common stock to two accredited
investor consultants for services rendered aggregating $200,000. This issuance
was in reliance on the exemption from registration provided by Section 3(b) and
Rule 504.
From November 1998 through February 1999, in connection with a private
placement made pursuant to the exemption from registration provided by Rule 504,
we (a) sold 2,012,500 shares of common stock to four non-accredited and eight
accredited investors at a price of $.20 per share, for an aggregate price of
$402,500 in cash, and (b) issued 180,000 shares to two non-accredited and three
accredited investors for services rendered valued at $36,000.
In March and April 1999, we sold to three accredited investors 667,500
shares of common stock at a price of $.20 per share, for an aggregate price of
$133,500, in cash, in a private placement made pursuant to the exemption from
registration provided by Section 3(b) and Rule 504.
In June 1999, we sold to two accredited investors 1,520,000 shares of
common stock at a price of $.15 per share, for an aggregate price of $228,000,
in a private placement made pursuant to the exemption from registration provided
by Section 3(b) and Rule 504 of the Securities Act and Section 203(t) of the
Pennsylvania Securities Act of 1972.
In October 1999, we sold to one accredited investor 394,000 shares of
common stock at a price of $.75 per share, for an aggregate price of $295,500,
in a private placement made pursuant to the exemption from registration provided
by Section 3(b) and Rule 504 of the Securities Act and Section 203(t) of the
Pennsylvania Securities Act of 1972.
In November 1999, we issued 5,000 shares at a price of $.05 per share for
an aggregate price of $250 to an employee who exercised stock options. This
issuance was in reliance on the exemption from registration provided by Section
4(2) of the Securities Act.
In November and December 1999, we sold to 26 accredited investors 700,583
shares of common stock at a price of $.85 per share, for an aggregate price of
$595,495, in a private placement made pursuant to the exemption from
registration provided by Section 4(2) and 4(6) of the Securities Act and Rule
506 of Regulation D promulgated under the Securities Act
****************
So large investors are losing money on this investment now. Some at 50 cents including an investor consultant. Hmmmm.
I run a private consulting firm that manages the money of it's clients, or you could say I manage a private fund and have ever since I left the Brokerage business about...damn it's been that long.
Jack |
