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Microcap & Penny Stocks : UNIVERSAL EXPRESS INC - USXP -- Ignore unavailable to you. Want to Upgrade?

To: Scottoo who wrote (689)	7/2/1998 4:31:00 PM
From: Gordon Gekko	Read Replies (1) \| Respond to of 2493

Altomare Owns the Class B Shares Not only does Altomare own the class B shares but they are worth 1 1/3 of a vote of the class A shares. Unless the outstanding class A shares reach a level greater than 1 1/3 times the outstanding B shares then RA has ultimate say so in the operations of Universal Express. Apparently, RA was issued the class B shares as a form of compensation for his 3 year commitment during bankruptcy court hearings. In addition, RA is the sole director on the board. Talk about a one man operation. This was taken from the latest 10K. The Company's class B common shares (of which 3,000,000 shares have been authorized) provide for one and one-third votes per share. If the Company's current Chief Executive Officer exercises any stock options pursuant to the Company's stock option plan, or if the officer receives other shares of common stock pursuant to his employment agreement with the Company in lieu of stock options, the aggregate number of votes to which the initial 1,500,000 Class B shares issuable to such officer is entitled shall be reduced by one vote for each additional share which is received by the officer. During the fiscal year 220,000 shares of the above class B common shares were converted to 220,000 of common shares.