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Non-Tech : Palweb Corp (PAEB) -- Ignore unavailable to you. Want to Upgrade?

To: jmt who wrote (1714)	3/4/1999 6:10:00 PM
From: MZUBOZ	Read Replies (2) \| Respond to of 2512

I believe that you were inquiring about preferred shares and their conversion rights. The following is from the Disclosure Statement found on the website (current as of May 31, 1998): Item 5: The par or stated value of the security. Each share of common stock has a $0.10 par value. There are two hundred million (200,000,000) shares of common stock authorized. Each share of preferred stock has a $0.0001 par value. There are twenty million (20,000,000) shares of voting preferred stock authorized. The original preferred stock series, authorized on April 28, 1993, is convertible into common stock (restricted under Rule 144) at the holders' option on or after April 28, 1995, on a 1-for-1 basis. The Series B Preferred Stock, authorized on December 10, 1997, is convertible into common stock (restricted under Rule 144) at the holder's option on or after December 10, 1999, on a 1-for-10 basis (the holder may convert one share of Series B Preferred Stock into ten shares of common stock), and the holders of Series B Preferred Stock are entitled to ten votes for each share of Series B Preferred Stock owned. Item 6: The number of shares or total amount of the securities issued or outstanding at the end of the issuer's most recent fiscal year. As of May 31, 1998, (i) there were 163,710,321 shares of common stock issued and outstanding, (ii) there were 2,250,000 shares of original series preferred stock issued and outstanding, and (iii) there were 2,736,667 shares of Series B Preferred Stock issued and outstanding.