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Microcap & Penny Stocks : ANDRETTI WINES (VINE) -- Ignore unavailable to you. Want to Upgrade?

To: B.D. who wrote (69)	2/1/1998 1:29:00 PM
From: B.D.	Read Replies (2) \| Respond to of 83

Some other interesting stuff from the proxy statement: * "Mario Andretti, Joseph E. Antonini, Mack H. Jennings, John P. Caponigro, Carl Haas, and Bruce A. williams own, in the aggregate, 4,013,000 shares of Common Stock, or 56.07% of the issued and outstanding Common Stock..." (which meant that their votes determined the outcome of the various issues being considered). * To put the above in proper perspective, if the folks above sold all their shares at Friday's closing bid, the shares would be worth $1,364,420. * Mario Andretti exchanged his right to receive $220,000 in royalties for the years 1995 and 1996 for common stock of the Company at approximately $.33 per share in late November. * Mr. Jennings (President & CEO) gets $65k/yr salary and "has received 100,000 shares of common stock of the Company". * Mr. Pepi (winemaker) gets $2k/mo as a consultant, and "has been granted 25,000 shares of the Company's common stock at no cost." * Mr. Caponigro (attorney) has been granted 100,000 shares at no cost. What's weird is that there are unaudited financial statements appended to the proxy, but they're 1996 numbers. But there's also this odd remark: "The Company is currently in the process of completing an audit for the year ended December 31, 1996, by Deloitte & Touche, LLP." Either they made a typo, and actually meant to say 1997, or this company doesn't realize that another year has passed.