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To: Bo Le who wrote (887)8/21/1999 6:04:00 AM
From: Codfish  Read Replies (1) | Respond to of 972
 
Bo Le,

Re #2 on your list:

"50 million convertible perferred shares (1 convert to 10 common) authorized.

What is the time table on this conversion - there must be a time frame for these options to be exercised - it cannot be open-ended. Can you provide the expiration date of the options?

Bill C.



To: Bo Le who wrote (887)8/22/1999 6:37:00 AM
From: Codfish  Read Replies (1) | Respond to of 972
 
Hi again Bo,

Just trying to get the arithmatic straight in my mind. In your post #887, are you suggesting that 100M shares authorized is the same thing as 100M shares issued and outstanding?

Also - with the expiry date of May1/99 having passed and the preferred options not having been exercised, are you suggesting that they can still be converted because the mm's can sell more shares than are issued and outstanding?

Just trying to understand the math.

Bill C.


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