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Microcap & Penny Stocks : THNS - Technest Holdings (Prev. FNTN) -- Ignore unavailable to you. Want to Upgrade?

To: Radim Parchansky who wrote (11376)	3/15/1999 6:20:00 PM
From: Tom C	Read Replies (2) \| Respond to of 15313

That's true, but I was thinking about the 10M shares in the "Alternative Prospectus." Selling Securityholders. This Prospectus is part of a larger Registration Statement. The Registration Statement contains a second prospectus (the "Alternate Prospectus") which allow a number of investors to sell up to 10,001,327 shares of our Common Stock. They include two shareholders who own 55,000 shares of the Common Stock as well as investors who have warrants and promissory notes exerciseable or convertible into shares of Common Stock (the "Selling Securityholders"). If the Selling Securityholders sell any shares, they will be entitled to receive the purchase price for those Shares. We will not receive any money from the sale of the Common Stock by the Selling Securityholders. However we will receive any price paid by holders of warrants covered by such shares who exercise them. Outstanding convertible promissory notes in the principal amount of $1,100,000 are convertible into shares of Common Stock at prices between the lower of (a) $.40 - $.60 per share and (b)75% of the market price per share of Common Stock when the notes are converted. The sale of the Common Stock by the Selling Securityholders (or even the potential of such sales or issuances to them below market price) may reduce the market price of the Common Stock being offered by us. Tom