What's the specific implication here? That Intile's financial problems, and by extension other uncertainties regarding the company's description of its financial status, are somehow my fault?
Kill the messengers. Better get Wireless while you're at it. Alistair, too.
But just to stay on topic: do we know who this lucky person is?
8. Stock Options
In September 1997, the Comapny sold 5,000,000 newly issued shares to a related
party for $150,000. In connection with this sale, the Company granted the related
party the option to purchase an additional 2,000,000 share at $.02 per share. The
value of the option has been included in paid-in-capital due to immateriality.
Just to make it clear, 5 million shares were sold to this "related party" for 3 cents a share. He has the option to purchase an additional 2 million at 2 cents a share, leaving him, if he doesn't sell any, with a total of 7 million, for which he will have paid a total of $190,000.
At the current price, these shares would be worth $3,010,000. Not bad, eh? |
