HYRB (BB:HYRB)
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For Immediate Release : February 19, 2001
[HyperBaric Systems Company Logo]
Shares Outstanding: 6,772,200
52 Week Trading Range: $0.26 - $3.00
Shares Held by Insiders: 3,766,400
Other Restricted Shares: 2,045,800
Shares Held by Public: 1,000,000 Current Price: $0.30 (as of 02/19/01 close)
Common Shares Authorized: 50,000,000
Transfer Agent: First American Stock Transfer
Headquarters: Palo Alto, CA
Auditors: BDO Seidman LLP
(OTCBB - HYRB)
This raises eyebrows because of the resignation of Seidman according to an 8-K dated Feb, 5th:
biz.yahoo.com
The Company has extended to shareholders who have purchased its common stock under two private placements dated September 1, 1999 and February 2, 2000 the option to rescind their investment, with an expiration date on this option of September 15, 2000. The Company has received notice from 22 investors who represent 222,900 shares with a rescission value of $334,400. A Rescission Agreement has been mailed to these investors during October 2000, requiring its return within five days of its signing. The terms of the Agreement are to return the certificate or certificates evidencing the Investor's Shares and Warrants. In exchange, the Company will issue a promissory note payable upon the earlier of (1) one year form the date of the note, or the receipt of funding sufficient to permit repayment of the principal and interest due under the note. The note will bear and interest rate of 10% per annum, compounded annually. |
