I called United Transfer, same share count as July 15, 1998.
75,218,091 outstanding
27,449,118 restricted
In the proxie it states that 57,698,091 share were issued from July of 1996 through the date of this proxie statement.
When I look at Big Charts, it looks like they started trading in April of 1997 at approx. .62, high trade during that period was approx. $1.25, the stock price dropped until Sept. to approx .13, then gradually moved up to March of 1998 at .62.
The company stated that no shares were used in the purchase of Myriad. I wonder what the average price of the 57,698,091 shares was and where the money was used for... heck even at .10/ share that's a little shy of $6,000,000.
Also Arif picked up an additional 9,406,000 shares since just prior to the merger with Pacer on Jan 26,1996 when he owned or controlled 17,520,000. Let's see... add those together: Total 26,926,000
Per amendment No. 1 to proxie statement
item 1; 12,500,000 shares held by Arif are being reviewed by the company's outside auditors to verify that they were paid for.
That would leave him 14,426,000 shares, a loss of 3,094,000 shares from what he owned prior to the Pacer merger.
This is going somewhere, but I can't find it right now. Follow the money.
JMO,
MM |
