Advance Gaming Technologies Inc. (AGTI) Message Board

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Microcap & Penny Stocks : Advance Gaming Technologies Inc. (AGTI)

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To: Cannon who wrote (4015)	1/7/1999 6:00:00 PM
From: tgs59	Read Replies (1) of 4539

You need to carefully review Note 3 of the 1997 10K. There are no outstanding notes from the former officers. Note 3 (from 1997 10K) << In 1997, with respect to the Promissory Notes entered into with certain employees, officers and directors of the Company, in view of the precipitous decline of the stock price, the Board of Directors determined to reduce the exercise price to more closely reflect the market value; and permit the interest remittances made on the Notes to be applied to the exercise price of the shares.>> The net effect was to eliminate all outstanding obligations. As of June 30, 1998 there is only a total of $8,531,00 in outstanding notes, but there is no notation explaining the amount. tgs59

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