SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : TAVA Technologies (TAVA-NASDAQ)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Gerald Underwood who wrote (7817)12/24/1997 12:42:00 PM
From: Jack Zahran  Read Replies (1) of 31646
 
Comments on the S-3/A:

The 12/23/97 S-3/A is only informative of possible future sales, but those sales will not happen until some things happen first. 70% of those shares have to become outstanding and this will happen under the following cicumstances: "exercise of outstanding warrants or options or upon the conversion of Series A Convertible Preferred Stock held by Selling Shareholders." There is a cost to exercising or converting these securities to outstanding shares that will go to TPRO, so many of the holders will not exercise or convert until it makes financial sense. In addition, those shares cannot be sold without an ammended filing first.

The other 30% are already reflected in the outstanding shares of the company. The S-3/A indicates that as of 12/23/97 no investor has made plans to sell. Evidently TPRO took the effort to contact those investors and ask them if they planned to sell. This is really good.

So, to date there will be less shares outstanding then we had estimated in the past would be outstanding when all the excersing and conversions were complete. In addition, we will be kept informed of any changes in status by ammendments to this filing. This is a much better filing then the previous S-3/A that caused some confusion.

Jack Zahran
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News