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Technology Stocks : DYNAMIC WEB (DWEB) -- Ignore unavailable to you. Want to Upgrade?

To: AugustWest who wrote (67)	2/2/1999 12:09:00 PM
From: DWEB IR	Read Replies (1) \| Respond to of 189

DWEB SEC S-2 filing clarification of Jan 26 NO "insiders" (i.e. Executive Management, early investors, etc.) are registering shares for future sale in this S-2. In our 10K of Jan. 13 we disclosed the following: ------------------------------------------------------------------ Private Placement On August 7, 1998, the Company closed on the first round of a private placement to the Shaar Fund, Ltd. ("Shaar Fund"). The Shaar Fund purchased 875 shares of Series A 6% Convertible Preferred Stock, par value $0.001 per share (the "Preferred Stock"), together with 87,500 Common Stock Purchase Warrants with a term of three years and at an exercise price of $6.00 per share (the "Common Stock Purchase Warrants") for an aggregate price of $875,000. The Company received net proceeds of approximately $779,000. Then, on December 3, 1998, the Company closed on the second round of its private placement with the Shaar Fund. The Shaar Fund completed its purchase of 625 additional shares of Preferred Stock and an additional 50,000 Common Stock Purchase Warrants for an aggregate price of $500,000. ------------------------------------------------------------------ As part of the private placement agreement, DWEB became obligated to register the shares for possible future sale. The S-2 of Jan. 26 Registration Statement, is DWEB fulfilling its obligation under the agreement. Also, with the exception of the Shaar Fund, all other shares being registered are connected to stock options priced at either $5.50/share or $6.00/share. We hope this is helpful.