Joe, A while back I posted a list of CC shareholders from the 8-K
filing dated Sept. 23, 1997, here is another copy of that list:
SCHEDULE "B"
List of Company Shareholders
CORE GROUP
Timber Participations Ltd. (Whyteburg SA) 2,710,000
1231912 Ontario Inc. 1,532,500
Overseas Communications 1,201,500
Johnathan Greenwood 375,000
Total Core Group: 5,819,000
(70.64 %)
FOUNDERS
Anthony Heller, in trust 368,500
David Heller 331,500
Hart Properties Ltd. 330,000
David Richman 250,000
Admiral Investments Limited 180,000
Charles Trovato 20,000
Mendy Goldberg 5,000
Total Founders: 1,485,000
(18.03 %)
MINORITY
Nobuyuki Oda 30,000
Shinichi Otawara 10,000
Yuichi Ozaki 10,000
Maurice Brenig, in trust 150,000
Elaine Salter 30,000
Betty Frieberg 20,000
Vivian Mermelstein 20,000
Greengro Corporate Services, in trust 20,000
Barry Sutton 10,000
J. Barnett, in trust 10,000
Price International Inc. 10,000
Barry and Marlene Cohen 10,000
Irving Mergel 10,000
Jerome Goldman 10,000
Kenneth and Franca Rubin 10,000
Marvin Goldman 10,000
Norman Stollman 10,000
Richard and Nola Baris 10,000
Jared Goldman 5,000
Firm Capital Mortgage Corp. 5,000
Richard Litsiger 5,000
Robert and Anita Marino 5,000
Cullen Trading Ltd. 120,000
Proteus Investments Limited 50,000
Elmrise International Limited 50,000
Kenny Tibber 50,000
Tadworth Property 25,000
Balchan Trustees Ltd. 20,000
Ray Conway 17,500
Raymond Rohrbach 15,000
Union Baincaire Privee 15,000
William George 15,000
G&G Wholesale Ltd. 12,500
L.S. Tish 12,500
Silver Pine Holdings Ltd. 12,500
Stevenson Brothers 12,500
Biata Bray 10,000
J. Raven 10,000
Maurice Alberge 10,000
Minton Holdings Limited 7,500
N. Crowley 7,500
M. Rodin 7,500
L.H. Crawford 5,000
M.J. Harroway 5,000
P. Wolf 5,000
S. Leigh 5,000
S. Stewart 5,000
Tessa Drummond 5,000
Andrew Millard 2,500
David Redmile 2,500
Jane Jordan 2,500
Mr. and Mrs. Harvey 2,500
Sally Wolchover 1,875
Vince Waterman 1,250
Monte Schaffer 1,000
Total Minority: 934,125
(11.33 %)
TOTAL ALL SHAREHOLDERS: 8,238,125
It has been pointed out that the number of shares in this list
represent the original Card Call shares which were exchanged for DCI
shares. The exchange was basically a one for one, once all options
and warrants were exercised and broken down as follows:
For each 100 CC shares, a holder would recieve:
6 shares of DCTC
9 warrants for DCTC at $4
85 options to buy DCTC at .20
With regards to the numbers I posted on the Whyteburg account
(see top of CC list) in an earlier post I did not factor in the
fact that in the 13D filing that only a portion of the .20 options
were exercised as it was not clear to me at the time just how all
of this worked. So in the interest of keeping the facts straight,
I will repost what I believe accurately reflects the Whyteburg
account, if anyone finds any additional errors let me know. Some
of this stuff can get to be somewhat complex, but since some of
us rely on this information I would like to keep what I post as
accurate as possible.
Whyteburg SA original CC shares: 2,710,000
This breaks down into:
1. 162,600 shares of DCTC
2. 243,900 $4 warrants for DCTC
3. 2,303,500 .20 options for DCTC
From the 8-K filing on Locus filed July 27, 1998 we have:
Options granted: 2,303,500 (same as total .20 options above)
Options unexercised: 708,144
From this we can deduce that a total of 1,595,356 options have
been exercised as of the July 27th filing. Note that this same
number appears on the 13D filing filed May 6, 1998 on line 7
showing the total shares owned by Whyteburg on that date.
We have one other piece of information, that can be found on the
proxy mailed with all annual reports showing that the Whyteburg
account as of June 11th, the Whyteburg account was holding
1,249,831 shares. In putting all of this information together
I come up with the corrected conclusions regarding the shares
sold from this account:
Total Whyteburg shares if all options/warrants exercised:....2,710,000
1. I doubt that any of the $4 warrants have been exercised so -243,900
2. We can account for 708,144 .20 options not exercised so: -708,144
3. Using the shares remaining in this account per the proxy:-1,249,831
We end up with a total shares sold through June 11th of: 508,125
More of course could have been sold by now, since the last info I
have on this was for June 11th. This number is a good bit lower
than the earlier numbers I posted indicated and I wanted to clear
this up. The evidence still seems to support that a lot of CC
shares have been sold . The amount of digging that it sometimes
takes to come up with the correct numbers is pretty staggering
at times.
A few questions I still have:
1. Could the remaining shares held in Canada in accounts such
as this be shorted against?
2. Why have so many CC options been exercised ( 4,439,176 thru
7/27/98) unless there were plans to either sell or short against
these shares?
3. Is there some way we could accurately determine the size
(if any) of a short position against these shares?
James |
