Accounting summary....
per FORM 10-KSB, Apr 15 1998
100,000,000 shares authorized
30,155,947 shares issued and outstanding
per S-8, June 25, 1998
8,000,000 @ $.25 =$2,000,000.00
per S-8, May 8, 1998
12,000,000 @ $0.28 =$3,360,000.00
per FORM 10-Q Nov 13 1998
57,527,738 shares issued and outstanding
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*10KSB is comparable to a 10Q for small companies
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The most recent convertibles are accounted for in the shares outstanding. Haven't exactly figured out where 6,000,000 shares came from (stock options?).
These 57,527,738 are the total shares outstanding NOT the public float! (Includes shares owned by "insiders").
Somebody want to help out and provide that info: the float.
The recent conversions occurred at $0.25 and $0.28 ....many of us actually got our shares cheaper. :)
Even though the company is authorized to issue 42,000,000 more shares, they received their most recent cash via a private placement rather than through issuing more paper....thus no further dilution for the time being.
This is a good sign.
So in conclusion another basher is debunked.
So lets all get ready to Rock & Roll!!!!
(With our MusicCards, of course).
ztect |
