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To: Ditchdigger who wrote (27789)5/9/1999 6:17:00 AM
From: Ditchdigger  Respond to of 44908
 
Maybe I'll buy Monday,,under the assumption the company has reduced it's authorized number from 114MM to 100MM, as reported in the 10K and Fridays PR..(of course my decision would be made in combination with hell freezing over..;^)DD



To: Ditchdigger who wrote (27789)5/9/1999 8:13:00 AM
From: Bald Eagle  Read Replies (1) | Respond to of 44908
 
<<a shareholder vote was required to increase the authorized number>>
I think that has already been discussed here. I believe that they don't need a vote of ALL the shareholders as long as they can get a majority to vote for an increase. Since Gordo is listed as owner of over 40MM in the 10K, I guess he just needs a couple of buddies to put together the owners of over 50% of outstanding/issued ( or whatever ) shares. If someone knows more, please let us know.



To: Ditchdigger who wrote (27789)5/9/1999 11:47:00 AM
From: Andrew H  Respond to of 44908
 
DD, you are correct that there is a misstatement of the authorized shares. This is unfortunate and should be corrected. I would assume that the figure in the SEC document is correct.

According to the transfer agent there are over 95M shares issued. It would seem they are not counting the approximately 15-17M PP shares in escrow as part of the shares outstanding, thus the 80M figure for shares outstanding.