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Technology Stocks : BIFS ... Patented Environmental Cleanup and Low Float Co. -- Ignore unavailable to you. Want to Upgrade?

To: scion who wrote (321)	4/2/2001 8:57:05 PM
From: scion	Read Replies (1) \| Respond to of 381

Jay Knabb got fired.... As described in Note F, the Company has granted a 12,000,000-share stock option to a former employee. The exercise price of these options is $.001. Based on the Black-Scholes stock option pricing model described above, the value of this option at the grant date, if recorded, would be $876,000. Based on an employment, agreement these shares are exercisable if the employee is terminated. In December 2000, the employee was terminated. At December 31, 2000, the Company has instituted legal action to void the employment agreement and issuance of the above option shares. In the opinion of Management and legal counsel, the Company will prevail in their legal proceeding against the former employee and the employment agreement and associated stock options will be voided. new.edgar-online.com