It's taken an extra 5 months, but GTAX finally appears ready to redeem its warrants.
There are 508 k warrants, representing 9% of shares out and 25 days of volume. So this could be a pretty big impact.
Here's the news:
GREAT NECK, N.Y.--(BUSINESS WIRE)--Aug. 31, 1998--Gilman + Ciocia
Inc. (NASDAQ:GTAX) announced today that it is extending the expiration
date of its publicly traded redeemable common stock warrants from
Sept. 8, 1998 to Sept. 28, 1998.
The terms and conditions of the warrants will otherwise remain
the same.
A registration statement on Form SB-2 relating to the shares of
common stock of Gilman & Ciocia, Inc. issuable upon exercise of the
redeemable publicly traded warrants has been filed with the Securities
and Exchange Commission, but has not yet become effective. These
securities may not be sold nor may offers to buy be accepted prior to
the time the registration statement become effective.
This news release shall not constitute an offer to sell or the
solicitation of any offer to buy nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state.
The shares of common stock of Gilman & Ciocia Inc. issuable upon
exercise of the redeemable publicly traded warrants are being offered
by Gilman & Ciocia Inc. to holders of such warrants and represent new
financing. Such shares will, however, be offered concurrently with
shares of common stock that are currently issuable to holders of
options.
Upon the effectiveness of the registration statement, a
prospectus may be obtained by writing to Gilman & Ciocia Inc., 475
Northern Boulevard, Great Neck, N.Y. 11021, Attn: CFO.
Gilman + Ciocia is the first publicly traded company to combine
financial planning and tax preparation services. Headquartered in
Great Neck, Gilman + Ciocia now has over 100,000 clients with 138
offices in fifteen states.
CONTACT: Gilman + Ciocia, Great Neck
Tom Povinelli, 516/482-4860
or
The Pinnacle Group, Great Neck
Mark Cohen, 516/773-2477 |
