RE: sources of dilution
In response to a post on the Raging Zoo
Now regarding Bernie's basic Investments,
the key to understanding
the dilution is to note, if I'm not mistaken,
that each 424B3 is pursuant to a 424 meaning
a prospectus supplement. Which, in turn,
means each 424B3 represents a draw from the
10 mill dollar original PP. Thus the total
number of shares that passed through Bernie
per each "traunch" or draw down is the total
shares per each 424B3, which would be as follows:
424B3- Aug. 8, 1999
424B3- Oct. 27, 1999
424B3- March 17, 2000
or
Basic Investments Ltd. (3)........39,264,472
Basic Investments Ltd.............29,282,510
Basic Investments Ltd. ............3,748,282
===============================================
Total shares converted............72,295,264
per traunches or 424B3's
This total doesn't include 3,500,000 shares which
may be acquired pursuant to warrants owned as of
4/00 - 10 K filing
Each 424B3
Includes (i) the number of shares issued or issuable upon
conversion of debentures, (ii) the number of shares issued
or issuable as payment of interest on the debentures,
(iii) the number of shares of common stock issuable upon
exercise in full of the warrants, and (iv) the number of
shares issued or issuable to the selling securityholders
in lieu of certain penalties arising out of the debenture
documents because of delays in the filing and effectiveness
of the Registration Statement of which this prospectus
constitutes a part.
So each 424B3 represents its own conversion and the
time and need for additional operating money
Now let's see how many shares not including
warrants that Bernie had to vote at the share
holder mtg per the 4/00 10k.
18,601,200 shares
Thus according to this analysis, if I'm
correct with my assumptions, Basic Investments aka
"Bernie's company" and the thread idiots phone
buddy and patron disposed of
53,694,064 shares that he converted.
So how better than to distract attention away
from this real source of dilution then to
hire a mouth piece to promulgate a red herring.
I'm backin' my claims with numbers
from SEC docs. Bernie's boy has nothing
but horse shiet.
Again I'm not a professional SEC attorney,
so these are not profesional opinions, they
are just my simple minded thoughts instead.
Take them, leave them, agree or disagree
with them. Or ask a lot of questions and verify info
on your own.
Sincerely,
z
(spellin' not checked)
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