Pluvia, here is an obscure stock: DIYS.... pay a look....
where is the value?
In the meantime the stock split, so the warrants strike is around $7
edgar-online.com
Item 5. Other Information:
On February 7, 2000, Registrant entered into an Agreement pursuant to which it
agreed to sell up to 4,000 Series "A" Convertible Preferred Shares (the
"Preferred") and accompanying 5 year warrants (the "Warrants") to purchase
common shares, to two unaffiliated accredited investors, B.H. Capital
Investments, L.P. and Excalibur Limited Partnership, both of Toronto, Ontario,
Canada. The terms of the Preferred are as provided for in Certificate of
Designations filed with the Secretary of the State of Delaware. The
Agreement provides that the investors will purchase the Preferred and
Warrants in three tranches: the first tranche of $1 million on February 7,
2000; the second tranche of $1 million, provided certain conditions are met,
60 days after a registration statement filed by the Registrant with the
Securities and Exchange Commission (the "SEC") registering the common shares
underlying the Preferred and the Warrants, is declared "Effective" by the SEC
(the "Effective Date"); and the third tranche of $2 million, provided certain
conditions are met, 90 days after the Effective Date. Accordingly, on February 7
, 2000, the Registrant received gross proceeds of $1 million and sold and
issued 1,000 Preferred, convertible into 100,000 common shares, subject to
adjustment, and 23,762 Warrants, subject to adjustment, having an exercise
price of $13.8875 per share.
On February 8, 2000, the Company received proceeds of $126,000 from the exercise
of 15,000 warrants issued on January 10, 1995 to the Company's underwriter
pursuant to the underwriting agreement between Tasin & Company and the Company
with respect to the Company's initial public offering. Additionally, on March 9,
2000, the Company received proceeds of $53,438 from the exercise of 7,500
Options. |
