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Technology Stocks : Verified Perscriptions System ETCR
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To: DaiTN who wrote (340)8/6/2002 2:36:20 PM
From: uthabros   of 397
 
Let me try to clarify by giving you exerpts from the letter I recieved from the transfer agent.

1) Preferred shares were computed by the issuer as being 90% of the co.'s average 20 day market price beginning 20 trading days prior to the conversion date of July 16,2002. The company's average market price within this period, as been determined by the issuer, was .08 and therefore the conversion ratio is .07.

2) Inasmuch as the holding period for the Class A Common Shares is deemed to have begun on July 16,2001,any shareholder desiring to have the restrictions lifted may do so in the manner described in Rule 144, through the shareholder's broker. The company deserves the right to process all such requests until Dec. 1, 2002 and thereafter, at which time ot rimes the restrictions will be removed pursuant to rule 144.
I'm not sure where the co.'s lawyer came in but maybe I was hittin the Apple pipe at that time! ;>)))!!!
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