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Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?

To: Bill Wexler who wrote (2944)	8/10/1999 1:38:00 PM
From: BDR	Read Replies (1) \| Respond to of 10293

<<The vast majority of the float is controlled directly or indirectly by insiders. >> From the last annual report (shares owned): ALL OFFICERS AND 5,733,130(2) 40.7% DIRECTORS AS A GROUP (6 persons) Here's a good deal: Effective July 7, 1997, the Company hired Richard Salter as its Vice President for Business Development, for a period of two years. Mr. Salter had served the Company as a consultant from June 1996 through July 7, 1997, during which period he received options to purchase a total of approximately 110,000 shares of Common Stock. In exchange for his services beginning in July 1997, Mr. Salter receives options to purchase 5,000 shares of Common Stock (of which 2,500 shares will be issued under Form S-8 and the remaining 2,500 shares will either be restricted shares or, at the Company's option, will be issued under Form S-8), for each month that he serves the Company. In January 1998, the Company granted Mr. Salter options to purchase 100,000 shares of "restricted" Common Stock for a purchase price of $0.01 per share, for each of the three years 1998, 1999 and 2000 at the commencement of which Mr. Salter remains with the Company. In 1/98 the stock was selling for about $4 and in 1/99 it was selling at about $5. So far he has picked up 200,000 shares under the latter provision and the stock price is at $25. Not bad for a company with no revenues.