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Microcap & Penny Stocks : Zulu-tek, Inc. (ZULU) -- Ignore unavailable to you. Want to Upgrade?

To: Bagladdy who wrote (17602)	1/1/1999 9:57:00 AM
From: Brady B.	Read Replies (2) \| Respond to of 18444

I am trying to break this down: 8-K Total (amount paid) = 35.0 million Cash = 6.5 million (1.6 mil paid with bal of 4.9 mil due in Feb) Note = 25.0 million (payable in year 2002 at 10% per annum) Note interest = 10.0 million ( if held through 2002) 1998 funding = 3.0 million Investment Banking Fees = ??? Other fees and costs = ??? Total = 44.5 million + Fees and other costs 5 million shares to the members of BFL: In February 1999, the members of BFL will be issued, on a pro rata basis, Warrants to acquire 3.2 million shares of Company common stock and have received a commitment from the Company to deliver, on or before December 31, 1999, Warrants to acquire 1.8 million additional shares of common stock or substitute consideration. The Warrants are exercisable for a three year period, commencing in February 2000, at an exercise price which is the lesser of $4 per share or the market price of the Company's common stock, on the exercise date. 1 million shares at $1.50 per share as an executive incentive: In connection with the transaction, BFL entered into a new employment agreement with George Russell to serve as President and Chief Executive Officer of BFL pursuant to which Mr. Russell receives, in addition to salary and other executive benefits, incentive compensation and an option to acquire 1 million shares of Company common stock at an exercise price of $1.50 per share of which 50% are expected to vest in February 1999, and 25% will vest on each of December 1, 1999 and 2000. Issuance of common stock, convertible securities and warrants The Company is funding the transaction through the issuance of common stock and convertible securities and Warrants in private placements to accredited investors and offshore institutions. Funding thus far: As of the date hereof, $5.2 million for convertible securities has been funded and the Company has agreed to issue Warrants to acquire up to 560,000 shares of Company common stock at an exercise price of $1.00 per share, subject to certain market price adjustments at the date of exercise. ______________ Question: Since it appears a lot of ZULU stock is changing hands just with BFL, how much could be left to fund through off-shore sources? bb