IBUY 10-Q out. Near the very top of the filing we have:
As of December 8, 1998, there were 6,013,664 shares of the Registrant's no par value common shares outstanding.
Later down in the filing:
As of December 8, 1998, the Company had outstanding options and warrants to purchase an aggregate of 5,998,146 shares of Common Stock. The Company is also
obligated to issue a currently indeterminate number of shares of Common Stock upon conversion of the Debentures and exercise of the warrants issued in
connection with the Debentures (the "Warrants"). The exact number of shares of
Common Stock issuable pursuant to such conversion cannot be estimated with
certainty because, generally, such issuances of Common Stock will vary inversely
with the market price of the Common Stock at the time of such conversion. The
Debentures are also subject to various adjustments to prevent dilution resulting
from stock splits, stock dividends or similar transactions. Further, the
Company may, at its election, choose to issue additional shares of Common Stock
in lieu of cash payments of accrued interest due to the holders of the
Debentures. If all of the Debentures had been converted and the Warrants
issued to the holders of the Debentures had been exercised on October 31, 1998,
the Company would have been obligated to issue 7,500,000 shares of Common Stock
in respect thereto, exclusive of interest on the Debentures and shares issuable
upon exercise of the Warrants issued to the placement agent. Between November
25, 1998 and December 8, 1998, Debentures in the aggregate principal amount of
$2,500,000 were converted, principal and interest, for an aggregate total of
1,790,389 shares of Common Stock.
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