If only it were 4M shares. According to the proxy, it's 7.14M shares and equivalents. The Series A preferred has been converted entirely into stock, the last of that (2.13M shares) occurring in July. Another 1.2M in convert. debentures are exercisable as of Oct 11 (Saturday).
Below is from the proxy (Def 14A). BTW, a guy from RBB Graz has posted here. I ran across it when researching this thread.
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RBB Bank Aktiengesellschaft 7,136,841* 57.0%
Burgring 16, 8010
Graz, Austria
*Assumes that all shares of Common Stock issued and issuable to RBB Bank Aktiengesellschaft ("RBB Bank") upon the conversion of $1,500,000 principal amount of 8% Convertible Subordinated Debentures ("Debentures"), the Series A Convertible Preferred Stock ("Series A Preferred"), and Series B Convertible Preferred Stock ("Series B Preferred") and upon the exercise of common stock purchase warrants are beneficially owned by it. RBB Bank has disclaimed beneficial ownership of all of the foregoing securities and advised the Company that it is holding such securities on behalf of certain of its clients, none of whom owns 5% or more of any class of these securities. RBB Bank has further advised the Company that its clients have sole voting power over, and sole economic interest in, these securities. The holders of the Preferred Stock have no voting rights, except as required by law, such as in matters directly affecting the rights as holders of Preferred Stock. Of the shares of Common Stock indicated in the table as being held by RBB Bank for its clients, 1,044,935 shares were issued and outstanding (186,526 shares of which are subject to restrictions on transfer); 1,200,000 shares are issuable commencing October 1997 upon conversion of Debentures; 1,853,458 shares are issuable upon conversion of 1,972 shares of Series A Preferred at assumed conversion prices of $.93, $1.10 and $1.29 per share; 2,338,790 shares are issuable upon conversion of 3,500 shares of Serie B Preferred at an assumed conversion price of $1.50 per share; and 700,000 shares issuable upon exercise of 700,000 warrants at prices of $2.19, $2.25 and $2.75 per share. RBB Bank's clients have requested registration of the shares of Common Stock issuable upon exercise or conversion of the foregoing securities. |
