There are currently 17,833,333 common shares outstanding, with a float of 8,321,743 shares, reflecting various shareholder escrow agreements.
The directors and officers of MedcomSoft as a group, beneficially own or control, directly or indirectly, 9,932,865 Common Shares of MedcomSoft, representing approx. 57% of the outstanding Common Shares.
In addition thereto, pursuant to Ontario Securities Commission Policy 5.9, 9,511,590 Common Shares have been deposited in escrow with MedcomSoft's transfer agent, as escrow agent, subject to release as follows:
(a) immediately after nine months following the issuance of the receipt for MedcomSoft's final prospectus, 10% of the escrowed Common Shares;
(b) 20% of the escrowed Common Shares will be released immediately after each of the first, second and third anniversaries of the initial release: and
(c) 30% of the escrowed Common Shares will be released immediately after the fourth anniversary of the initial release.
Subject to the automatic release provisions of Policy 5.9, as described above, none of the Common Shares owned by such individuals may be released from escrow or transferred within escrow without prior written consent of the Ontario Securities Commission.
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