1. Please provide one or more links (for example, to an Edgar filing providing the full agreement) to such prior deals in a case where the company was in a financial situation with similar risk to this one.
During June 1998, the Company secured access to $20,000,000 under a
Common Stock Equity Line (Equity Line) with two institutional investors. The
Equity Line expires in June 2001. Under the terms of the Equity Line, the
Company may, in its sole discretion, and subject to certain restrictions,
periodically sell ("Put") shares of the Company's common stock for up to
$20,000,000 upon the effective registration of the Put shares. After effective
registration for the Put shares, unless an increase is otherwise agreed to,
$2,250,000 of Puts can be made every quarter, subject to share issuance volume
limitations identical to those set forth in Rule 144(e).
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At the time of each Put, the investors will be issued a warrant,
expiring on December 31, 2004, to purchase up to 10% of the amount of common
stock issued to the investor at the same price at the time of the Put. |
