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Technology Stocks : TAVA Technologies (TAVA-NASDAQ) -- Ignore unavailable to you. Want to Upgrade?

To: TokyoMex who wrote (7388)	12/17/1997 1:50:00 AM
From: Karl Drobnic	Respond to of 31646

Market overhang: Page 38 of the Dec. filing has some difficult punctuation. However, I think it is attorney's English and says that there are two blocks of stock. Block one is 3,722,258 shares that will be issued upon "exercise of outstanding securities". Block Two is 2,676,641 shares to be issued on "conversion of outstanding securities." Block Two appears to be the ProBridge Futures pfd. and warrants plus the publicly traded warrants. So Block One must be all the stock options and 144 stock issued to owners of the companies TPRO acquired. That's a 6.4 million share overhang. Right now, I'm not sure it includes the remaining Ren Cap 9% Cv. Pfd.