To: Due Diligence who wrote (337 ) 10/13/1999 11:26:00 PM From: Ga Bard Read Replies (2) | Respond to of 835
Just some highlights....As of June 30, 1999, there were 29,640,252 issued and outstanding shares of the registrant's Common Stock, $.01 parvalue. minusCompany/Individual # of Shares % Robert E. Wolfe 50,000 shares 0.17% Triton-International 375,000 shares 1.26% Crossland, Ltd. (Belize) 6,312,500 shares 21.30% (Wolfe) Crossland, Ltd. 5,937,500 shares 20.03% (Wolfe) Coastal Oil, Ltd. 5,937,500 shares 20.03% Eastern Star, Ltd. 5,937,500 shares 20.03% That is 24,550,000 from the 29,640,252 = 5,090,252 in the float.CLIENT AND INDUSTRY REPRESENTATION During this reporting period, 7 client contracts were concluded. There were 4 active clients as of June 30, 1999. Because the company represents a variety of clients in a variety of industries, the operation of each client account is unique. In addition to the CD Production Clients of AOXY, AOXY has 2 active contracts for Database Management. AOXY fulfils these contracts by providing, selling, updating and/or renting databaseinformation. Looks like they are getting clients and work... Health Care Contributions .......... 5,894 Due to Employees ................... 6,375 Federal payroll Taxes Payable ...... 46,546 State Payroll Taxes payable ........ 5,436 Looks like they are paying someone ... Base Salary Executive Officers' salaries are targeted at the median range for rates paid by competitors in comparably sized companies. The Company recognizes the need to attract and retain highly skilled and motivated executives through a competitive base salary program, while at the same time considering the overall performance of the Company and returns to stockholders. More companies should consider this ... I like this !!! Not to mention the stock option for executives.. I like this also!The option grants are issued at no less than 85% of the market price of the stock at the date of grant , hence there is incentive on the executive's part to enhance the value of the stock through the overall performance of the Company . Plus they did not even take Non employee Stock .. which they could have!During the fiscal year ended June 30, 1999, no options were granted to non-employee Board members. Bottomline is we have a company with Management that is willing to waiver salaries and not dilute shareholder interest to grow the business. Rarely have I read such common sense business savvy in an OTC. Plus they are cleaning it up from previous dealings also. SOme are settled and a few still pending. So they are profitable regardless. Most I know that would read this filing would be impressed in my opinion as I am. Most of the time your see dilution instead of a salary where shareholders suffer for it. JMO :-) GB