Some other interesting stuff from the proxy statement:
* "Mario Andretti, Joseph E. Antonini, Mack H. Jennings,
John P. Caponigro, Carl Haas, and Bruce A. williams own,
in the aggregate, 4,013,000 shares of Common Stock, or
56.07% of the issued and outstanding Common Stock..."
(which meant that their votes determined the outcome of
the various issues being considered).
* To put the above in proper perspective, if the folks above
sold all their shares at Friday's closing bid, the shares
would be worth $1,364,420.
* Mario Andretti exchanged his right to receive $220,000
in royalties for the years 1995 and 1996 for common stock
of the Company at approximately $.33 per share in late November.
* Mr. Jennings (President & CEO) gets $65k/yr salary and
"has received 100,000 shares of common stock of the Company".
* Mr. Pepi (winemaker) gets $2k/mo as a consultant, and
"has been granted 25,000 shares of the Company's common
stock at no cost."
* Mr. Caponigro (attorney) has been granted 100,000 shares
at no cost.
What's weird is that there are unaudited financial statements
appended to the proxy, but they're 1996 numbers. But there's
also this odd remark: "The Company is currently in the process
of completing an audit for the year ended December 31, 1996,
by Deloitte & Touche, LLP." Either they made a typo, and
actually meant to say 1997, or this company doesn't realize
that another year has passed. |
