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Pastimes : Reg. S. Alert! -- Ignore unavailable to you. Want to Upgrade?

To: Mark Davis who wrote (35)	8/9/1999 4:06:00 AM
From: Mr. Jens Tingleff	Read Replies (1) \| Respond to of 60

Yes SCUR fit here - Not the usual reg s, but action behind is more or less the same. Funny cut from recent S-3/A filing: 4. Includes 691,181 shares of common stock issuable upon conversion of 2500 shares of Series C preferred stock, assuming a per share conversion price of $3.617, the conversion price prevailing on July 23, 1999, 443,000 shares of common stock held on June 23, 1999 following conversion of Series C preferred stock and 87,232 shares of common stock issuable upon exercise of the warrants. Under the terms of the Series C preferred stock and the warrants, no holder can convert any portion of the Series C preferred stock or exercise any warrants if the conversion or exercise would increase that holder's beneficial ownership of common stock to in excess of 4.99% at the time of such conversion or exercise. Pursuant to a management agreement, Castle Creek Partners LLC may be deemed to beneficially own the securities held by CC Investments LDC. Castle Creek Partners LLC disclaims such beneficial ownership. John Ziegelman and Daniel Asher, as managing members of Castle Creek Partners LLC, may be deemed to be beneficial owners of these securities. Messrs. Asher and Ziegelman disclaim such beneficial ownership.