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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: SEC-ond-chance who wrote (80567)9/29/2002 5:08:31 PM
From: StockDung  Read Replies (1) of 122087
 
Remember Cramer on CNBC called C-Phone fraudUnet? Mr. Valentine liked that on too.

S-2/A for C-PHONE CORP filed on 3/17/99 3:30:00 PM



The shares being offered by Sovereign Partners consist of shares ofcommon stock that it may purchase from us pursuant to the private equity creditagreement. For additional information about the agreement, see "C-PhoneCorporation - Recent Financing Arrangement with Sovereign Partners." StevenHicks and Daniel Pickett are the principal members of Southridge CapitalManagement LLC, the sole general partner of Sovereign Partners. In suchcapacity, Southridge Capital and each of Messrs. Hicks and Pickett may be deemedto own all the shares of common stock beneficially owned by Sovereign Partners.Southridge Capital and Messrs. Hicks and Pickett each disclaim beneficialownership of such shares. Sovereign Partners purchased 2,000 shares of ourSeries A Preferred Stock and 200,000 common stock purchase warrants in ourDecember 1997 private placement. Sovereign Partners has converted all suchpreferred shares, exercised all such warrants and sold all of the shares ofcommon stock that it received upon such conversions and exercises. SovereignPartners does not beneficially own any of our common stock other than the sharesit may be required to purchase pursuant to the private equity credit agreement.
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