SEDONA Corporation (SDNA) Message Board

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Microcap & Penny Stocks : SEDONA Corporation (SDNA)

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To: robert a belfer who wrote (388)	11/4/1997 1:09:00 AM
From: Ted Zeilstra	of 731

On 8/26/97 the board approved granting 250,000 warrants to puchase an equal number of shares at a price 25% above the closing bid price on that day. The closing bid price was 3 1/8 making his buy price about $3.90. The warrants vest on 9/1/98. which in my opinion, means he can't buy the shares until then. And if the stock performs the way it is expected to, he will make by far more than his salary would have paid him. I don't remember exactly what he is being paid, but I think it's in the 150k range. So he breaks even at about $4.50 a share. Not bad, the company gets just short of a million dollars and he makes a killing. Some incentive huh? Dumb, real dumb......(like a fox, that is) Also, I seem to remember similar incentives mentioned somewhere based on closing stock prices above $7 or $8 a share for 21 consecutive days in '97 and $15 and $20 a share in '98. Ted

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