From Sunday's 8-K:
The 23 companies that own a total of 58 million shares of SYQT stock
want to sell 55 million of their shares. THAT's what you call
selling pressure... (I wonder how many shares aren't owned by those
23 companies?)
Also:
As of May 23, 1997, the Company had outstanding options and
warrants to purchase an aggregate of 45,790,642 shares of Common
Stock, at a weighted average exercise price of $2.6590 per share.
THAT's what you call dilution. Especially when you realize that
SYQT had about 10 million shares outstanding about six months ago...
- Michael Coley
- i1.net
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Name Shares of Common Shares of Common
Beneficially owned Stock being offered
Prior to Offering
(1)(2)
Nidec Corporation/(4) 600,000 600,000
Jardine Matheson
& Co., Limited/(4) 564,582 564,582
A-Corn Enterprises/(4) 548,002 548,002
Silicon Systems/(4) 811,017 811,017
Tongkah Electronics,
Sdn Bhd/(4) 3,506,874 3,506,874
Seksun Precision
Engineering Limited/(4) 141,957 141,957
Fletcher International 8,634,016 7,134,016
/(5)
RGC International
Investors, LDC/(6)(10) 4,417,930 4,280,409
New Enterprise
Associates VII L.P./(6) 7,134,016 7,134,016
Tail Wind Fund /(6)(7) 920,102 920,102
CC Investments, LDC/(6) 4,280,409 4,280,409
Capital Ventures
International/(6) 1,426,803 1,426,803
Southbrook International
Investments Ltd./(6) 1,783,504 1,783,504
Nelson Partners/(6)(11) 3,759,177 2,853,606
Olympus Securities, 3,457,172 2,853,606
Ltd./(6)(11)
Combination Inc./(6) 12,127,828 12,127,828
Gross Foundation 925,412 713,401
Inc./(6)
Millenco, L.P./(6)(7) 1,093,470 1,093,470
Moshe Bodner/(7) 483,333 483,333
Wharton Capital
Partners Ltd./(8) 514,630 500,000
State Capital
Market Group, Ltd./(8) 620,000 495,000
David Stefansky/(8) 10,000 10,000
Bain & Company, Inc./(9) 320,000 320,000
Total 58,138,901 54,640,512 |
