To: Brian P. who wrote (1957 ) 5/2/1998 5:01:00 PM From: Mark Collier Respond to of 5736
Let's follow Ms. Macfarlanes trail since the approval of the stock split and the amendments as follows..... I think she is setting the stage for something big to occur! A million share option was awarded Ms. Macfarlane for specific performance. She filed the S8 with the SEC 4/30/98. Some may say this is dilutive to the outstanding shares. I think not. First of all, the shares cannot be exercised until the following tests are met. Secondly, I believe that she knows exactly the trail she is following, and probably already has a private placement to transpire at the appropriate time. If so, there will be no market concern. Third, only 1/3 of her shares can be exercised each year unless the board approves otherwise. Fourth, if the market conditions are met, we longs all win big, and any concerns about dilution today, will not stand. A international PR firm...... A international Accounting firm...... The following excerpts were taken from Pres14A of 01/12/98freeedgar.com 1. The Stock Test for the Class A Preferred Stock currently provides that holders of the outstanding shares of Class A Preferred Stock will be entitled to convert their shares of Class A Preferred Stock into shares of Common Stock upon the closing bid quotation of the Common Stock on the NASDAQ being at least $46.67 (the "Trigger Price") on 30 consecutive trading days. $46.67/.6667=$31.11 Post split 2. The Earnings Test for the Class A Preferred Stock set forth in the Company's Certificate of Incorporation currently provides that holders of the outstanding shares of Class A Preferred Stock will be entitled to convert their shares of Class A Preferred Stock into shares of Common Stock if the Company's pre-tax net operating income (before interest expense) exceeds $20,000,000 in each of 1997 and 1998. 3. Unless otherwise determined by the Board at the time of grant thereof, an option will be exercisable one-third after the first anniversary of the date of grant, two-thirds after the second anniversary of the date of grant and in full after the third anniversary of the date of grant. Folks, in my opinion, this is large. Ms. Macfarlane is methodically, step by step, taking CCSI into the winners circle! She would not spend $4425.00 for the S8 filing fee for nothing, would she? No way, this Lady is going to the big time and so are we! A major world partner distributor is next!