Allan,
A little insight from Tom @ ICC:
The recapitalization announcement is the culmination of the $5.5M
private placement last December.
Arthur Anderson recommended this course of action.
Of major significance:
ZMAX is now registered with the SEC. Money managers will now be able to
participate in the stock. We're finally a "real" company, so to speak.
Authorized, fully diluted shares still at 10.2M
If 100% of the warrants are exercised, shares outstanding will be 9.2-9.3M
Also, if all warrants are exercised, approximately $7.7M cash flow into
company. Even if only 80% are exercised, that's still about $6M cash.
Float will remain at about 3M shares.
Restrictions on these shares vary. Some "144" shares, which carry a
2-year restriction on selling. Some shares will be free-trading after
NASDAQ listing.
Re: Our new Board member, Ted Fine:
Looks like another thoroughbred. Appears that Fine is likely to give
ZMAX similar credibility/exposure on the domestic front as Berty on the
international scene.
And with Higgins running the show on a day-to-day basis, well . . .
We may be about the last y2k out of the gate, but IMHO, our party is
about to begin. Shouldn't take too long to find out.
Good luck to all us Z's out there,
David |
