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Technology Stocks : Interactive Objects Inc.
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To: raydit who wrote (148)9/11/1998 3:58:00 PM
From: raydit  Read Replies (1) of 197
 
Steve Wollach of IO responds: I would like to clarify the selling shareholder issue for you. Of the 1.946 MM shares that are being registered, 112,000 are from a board member. The reason he is allowed to register his shares is that those shares are from money he put into the company and was by agreement. Second, the balance of the shares are from the private placement offering (see 5/26 announcement). These individuals invested $6MM at a price of $4 per share. By registering their shares (per agreement) all we are doing is eliminating the restriction. That does not mean they are selling anything. As to the balance of the shares to be registered, they are warrants at a price range of $3-$7.50. If and when those shares are exercised, the money will go directly to the company. Thanks Steve. raydit@hal-pc.org
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