Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MRPT Macreport.net - Super POS of the Summer -- Ignore unavailable to you. Want to Upgrade?

To: RobbRacer who wrote (3)	11/6/2002 11:46:52 AM
From: RobbRacer	Read Replies (1) \| Respond to of 11

Just some intersting facts from latest 10Q Revenues. We generated revenues of $4,667 from continuing operation during the nine months ended August 31, 2002 and no revenues during the nine months ended August 31, 2001 Selling, General and Administrative Expenses. Selling, general and administrative expenses incurred during the nine months ended August 31, 2002 increased to $674,090 from $570,215 during the nine months ended August 31, 2001. These expenses consist primarily of consulting fees, professional fees and other corporate expenses, including business development and general legal activities. During June 2002, we issued convertible promissory notes to 12 individuals with an aggregate principal amount of $336,000. The convertible notes bear interest at a rate of 8% per annum with a maturity date of June 1, 2003. Pursuant to the terms of the convertible notes, prior to June 1, 2003, we may convert the balance due together with accrued interest into shares of common stock. The conversion ratio is the lesser of: (i) two dollars ($2.00) per share of common stock; and (ii) the average of the closing bid prices per share for the common stock, as reported on the over-the-counter electronic bulletin board, or such other public market on which our common stock is then traded, during the 30 trading days prior to date of the conversion. During February, March and May 2002, we issued convertible promissory notes to 12 individuals with an aggregate principal amount of $83,850. The convertible notes bear interest at a rate of 8% per annum with a maturity date of June 1, 2003. Pursuant to the terms of the convertible notes, prior to June 1, 2003, we may convert the balance due together with accrued interest into shares of common stock. The conversion ratio is the lesser of: (i) one and one-half dollars ($1.50) per share of common stock; and (ii) the average of the closing bid prices per share for the common stock, as reported on the over-the-counter electronic bulletin board, or such other public market on which our common stock is then traded, during the 30 trading days prior to date of the conversion.