To: Lola who wrote (7189 ) 9/7/1999 10:25:00 PM From: Ed Pakstas Respond to of 36688
A lil' bit o' DD on the EWD/vse... Options as of June 30/99 Options Exercise Price Expiry Date 595,000 $0.90 May 28, 2004 375,000 $0.75 August 28, 2003 225,000 $0.23 March 11, 2002 757,000 $0.75 Jan. 9, 2003 Warrants as of June 30/99 In this quarter the Company issued 1,140,000 special warrants by way of brokered private placement at a price of $1.00 per special warrant. Each special warrant is exercisable at no additional cost into one unit consisting of one common share and one non-transferable common share purchase warrant (“Warrant”). Each Warrant entitles the holder to acquire one additonal common share at an exercise price of $1.25 per share for a one-year period. The Company paid to the agent a cash commission of $79,800 (equal to 7% of the total proceeds) and issued 79,800 brokers' warrants (“Brokers' Warrants”). Each Brokers' Warrant entitles the agent to acquire one unit, consisting of one common share and Warrant, at an exercise price of $1.00 per unit for a one year period. Each Warrant entitles the agent to acquire one additional common share at an exercise price of $1.25 per share. A total of 835,714 shares were issued upon the exercise of 835,714 warrants at an exercise price of $0.80 per share to net the Company $668,571. These warrants were issued by way of a private placement of 1,071,429 units, consisting of one common share and one share purchase warrant, in June 1998. 133,500 shares were issued upon the exercise of 133,500 options granted on August 28, 1998 to purchase up to 450,000 common shares at a price of $0.75 per share netting the company $100,125. An additional 20,000 shares were issued upon the exercise of options for a net to the company of $4,600. Looks to me like lottsa paper is gonna be flying around.... But then again, what the 'ell do I know...It could all be in what's called "safe and ungreedy VSE hands" ...<GGGG> Sounds like it's gotta story to back it up though... ...ed