Dale,
I'm trying to figure out the meaning of the table on page 20 in the
July 30, S-3/A as it relates to footnote #8. Below, I have extracted
the lines from the table that refer to the share holders mentioned in
footnote #8.
<<
Shares of Shares of
Common Stock Common Stock
Beneficially Shares of Beneficially
Owned Prior to Common Stock Owned After
Name Offering/(1)(2)/ Being Offered Offering/(3)/
---- --------------- ------------- -------------
CC Investments, LDC 5,078,853 10,958,701 0
Southbrook International Investments, Ltd. 5,078,853 8,894,135 0
RGC International Investors, 5,078,853 12,425,515 0
Nelson Partners 5,078,853 1,565,325 0
Olympus Securities, Ltd. 5,078,853 2,568,671 0
Combination, Inc. 5,078,853 3,000,000 0
>>
So, my question is, in which column (Shares of Common Stock Owned
Prior to Offering, or Shares of Common Stock Being Offered) would the
following share amounts appear if there was no 5.0% rule as stated
below, and what affect (if any) does that have on the number of
shares that will ultimately be outstanding?
<<
(8) Because the Selling Stockholders are subject to the 5.0% Limit,
the number of shares of Common Stock shown to be beneficially owned
by each Selling Stockholder is 5.0% of the number of outstanding
shares of Common Stock as of June 5, 1998. If the Selling
Stockholders were not subject to the 5.0% Limit, the shares of Common
Stock beneficially owned by them would be as follows:
Shares of
Common Stock
That Would be
Beneficially
Owned
----------------
CC Investments, LDC, 19,309,520
Southbrook International Investments, Ltd., 10,161,435
RGC International Investors, LDC, 14,781,107
Nelson Partners, 11,991,683
Olympus Securities, Ltd., 14,427,503
Combination, Inc., 8,500,000
>>
Is this saying.... At this time, these companies only own 5,078,853
shares, because that is all we could legally give them. However, as
they sell those shares we will give them more shares? |
