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To: Buckey who wrote (7582)	3/11/2005 11:12:51 PM
From: Jeffrey S. Mitchell	Read Replies (1) \| Respond to of 12465

As Hoatzin pointed out, here's the important part of paragraph 4.1.1 of the "Amended Employee Stock Incentive Plan for the Year 2004 No. 3": ...the number and class of shares subject to each outstanding Award, shall not be proportionately adjusted in the event of any increase or decrease in the number of the issued shares of the Common Stock which results from a split-up or consolidation of shares..." sec.gov In other words, any stock issued to anyone under this plan would not be subject to the 1 for 350 reverse split. So how much stock might this be? We registered 174,000,000 shares of common stock and options to purchase common stock for issuance under our Employee Stock Incentive Plan for the Year 2004 No. 3, and 25,000,000 shares of our common stock for issuance under our Non-Employee Directors and Consultants Retainer Stock Plan for the Year 2004 No. 3 on our Registration Statement No. 333-117712 on Form S-8, filed with the SEC on July 28, 2004. Since July 28, 2004, 128,000,000 shares of common stock have been issued under our Employee Stock Incentive Plan for the Year 2004 No. 3, and 22,000,000 shares of common stock have been issued under our Non-Employee Directors and Consultants Retainer Stock Plan for the Year 2004 No. 3. This left 46,000,000 shares of common stock or options to purchase common stock available for issuance under our Employee Stock Incentive Plan for the Year 2004 No. 3 and 3,000,000 shares of common stock available for issuance under our Non-Employee Directors and Consultants Retainer Stock Plan for the Year 2004 No. 3. sec.gov So it seems that if you find out who received these shares, you know where the volume might be coming from. BTW, I see no SEC filing that cancelled the 600M additionally registered shares under this plan. - Jeff