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To: bob who wrote (2453)2/19/1999 10:05:00 PM
From: V$gas.Com  Respond to of 18366
 
I don't think it ruins the party. Debentures like this happen all of the time. With the action we have seen over the past couple of weeks, I would say that this is probably over. (debenture selling) The stock is holding very well considering.

V$gas



To: bob who wrote (2453)2/20/1999 2:54:00 AM
From: chris431  Respond to of 18366
 
Highlights from 13D:

Pursuant to a 15% Subordinated Promissory Note and Warrant Purchase Agreement dated as of January 22, 1999 between the Issuer and Davric (the "Purchase Agreement"), Davric purchased from the Issuer a 15% subordinated promissory note due December 31, 1999 in the aggregate principal amount of $450,000 (the "Note") and warrants for the purchase of an aggregate of 4,500,000 shares of Common Stock, for an exercise price of $0.10 per share until June 30, 2000 (the "Warrants"). The aggregate purchase price for the Note and Warrants was paid by Davric in December 1998 and January 1999 for an aggregate of $450,000, no separate value was assigned to the Warrants.

Except as set forth herein, there have been no transactions in the Common Stock effected by the Reporting Persons or, to the best of their knowledge, any of the persons set forth above, during the 60 days preceding the date of this Statement. The following are transactions of the family trust and the individual retirement account in the open market during the last sixty days:
SCHEDULE 13D
Initial Filing
February 18, 1999

Stock Sales:
Mr. Polis 2/2/99 20,000 $0.21
Mr. Polis 2/5/99 12,500 $0.25
Mr. Polis 2/5/99 5,000 $0.255
Mr. Polis 2/5/99 100,000 $0.275