Re: ALTIF
ALTAIR INTERNATIONAL INC has filed a Form 424B2 with the United States
Securities and Exchange Commission.
Click on the following hyperlink to view this filing:
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"This Prospectus Supplement supplements the Prospectus dated March 17, 1999 (the "Prospectus") of Altair International Inc. (the "Company") relating to the offering and sale of 1,500,000 common shares of the Company (the "Shares") and warrants to purchase up to 500,000 of the Shares (the "Warrants"). This Prospectus Supplement relates to the offer and sale of 300,000 Shares and 150,000 Series J Warrants, each of which entitles the holder thereof to purchase one Share at the price of $9.00 on or before March 19, 2002 (the "Series J Warrants")."
Dilution is good for you! Only in the weird world of ALTIF.
DILUTION
The section of the Prospectus entitled "Dilution" is supplemented by the following information about the offering to which this Prospectus Supplement relates:
The net tangible book value (deficit) of the Company at December 31, 1998 was $4,853,926 or approximately $.32 per Share. Net tangible book value (deficit) of the Company is the value of all tangible assets, less the value of all liabilities. Net tangible book value (deficit) per Share is the net tangible book value (deficit) of the Company divided by the number of Shares issued and outstanding.
If all of the Shares and Series J Warrants to which this Prospectus Supplement relates are sold, and all Series J Warrants are exercised, the net tangible book value (deficit) of the Company would be $8,191,831 or approximately $.52 per share at December 31, 1998, resulting in an immediate increase in net tangible book value of $3,337,905 or approximately $.20 per Share to existing shareholders and an immediate dilution of approximately $6.89 per Share to purchasers. |
