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Microcap & Penny Stocks : IMDS nasdaq bulletin board -- Ignore unavailable to you. Want to Upgrade?

To: Labrador who wrote (3131)	4/13/1999 1:26:00 PM
From: kenita	Read Replies (2) \| Respond to of 4122

This is significant: The Debentures pay a 7% premium, to be paid in cash or freely trading Common Stock in the Company's sole discretion, at the time of each conversion and is secured by mortgage on the Company's corporate office building. The Debentures are subject to automatic conversion at the end of two years from the date of issuance. The Mortgage will be released after the Registration Statement covering the Common Stock underlying the Debentures has been declared effective and upon the earlier of (a) the day the Company qualifies for listing on AMEX or NASDAQ, as long as said listing requirements are not being met through a reverse split of the Company's Common Stock or (b) 180 days from the date the Company receives the third tranche, as described above.