'"Future Issuances of Common Stock Pursuant to Non-Statutory Stock Option Plans, Non-Plan Options, Warrants and Contingent Stock Issuances. The Company has in effect three separate non-qualified stock option plans which, combined,initially reserved for issuance up to 40,000,000 shares of the Company's Common Stock, for the benefit of officers, directors, employees and consultants of the Company and its subsidiaries."
"On April 20, 1998, Mr. Gordon was granted an additional 7,000,000 options to purchase common stock under the Plan, exercisable at $0.15 per share, expiring on April 30, 2003. "
Anyone been exercising these generous options lately? DD
PS: "Futro & Trauernicht, LLC, Attorneys and Counselors at Law (the "Firm"),has acted as counsel to the Company and has given its opinion as to the validity of the securities registered with the Registration Statement hereunder, which opinion appears at Exhibit 5.7 thereto. The Firm, or members of the Firm, may in the future be issued shares or options to purchase shares pursuant to the Plan,
which shares of Common Stock may be restricted or registered pursuant to the Registration Statement.
PSS: I won't even bring up the $2.5mm convertible debenture placed.. |
