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Technology Stocks : CSGI ...READY FOR TAKE-OFF!
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To: TEDennis who wrote (2008)1/6/1998 3:00:00 PM
From: angel  Read Replies (2) of 3391
 
TED please tell me what this means because Tech first said it had to do with paying off long-term debt with stock and he says it does not. All I know is that if insiders sell UP TO 3 MILLION SHARES then the price will go WAY DOWN not "double" as Tech claims.

USE OF PROCEEDS

Of the estimated 2,898,986 shares of Common Stock offered hereby, an estimated 211,416 shares are being sold by the Company upon conversion of $1.0 million in convertible notes and 2,687,570 shares are being sold by the Selling Stockholders. The only proceeds to the Company upon conversion of the outstanding convertible notes will be the discharge of $1 million of long-term debt. There can be no assurance that the convertible notes will be converted. The Company will not receive any proceeds from the sale of Common Stock by the Selling Stockholders.
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