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Message: Re: Turley... from the Sept DEF... obviously some of t

Mar 06, 2008 06:49AM

Re: Turley... from the Sept DEF... obviously some of t

in response to by
posted on Mar 06, 2008 06:56AM
Name
Amount & Nature of
Beneficial Ownership
Percent of Class
Gloria H. Felcyn, CPA
1,439,700 (1)
*
Helmut Falk, Jr.
3,428,231 (2)
*
Carlton M. Johnson, Jr.
1,675,000 (3)
*
David H. Pohl
2,657,846 (4)
*
Thomas J. Sweeney
275,000 (5)
*
James L. Turley
1,075,000 (6)
*
Harry (Nick) L. Tredennick III
100,000 (7)
*
Lincoln Ventures, LLC
29,624,189 (8)
7.61%
Swartz Private Equity, LLC
5,759,940 (8)
1.48%
All directors & officers as a group (7 persons)
10,650,777 (9)
2.74%

——————
*Less than 1%
(1)
Includes 1,050,000 shares issuable upon the exercise of outstanding stock options exercisable within 60 days of August 31, 2007.
(2)
Includes 1,000,000 shares issuable upon the exercise of outstanding stock options exercisable within 60 days of August 31, 2007.
(3)
Includes 1,400,000 shares issuable upon the exercise of outstanding stock options exercisable within 60 days of August 31, 2007.
2

(4)
Includes 775,000 shares issuable upon the exercise of outstanding stock options exercisable within 60 days of August 31, 2007
(5)
Represents shares issuable upon the exercise of outstanding stock options exercisable within 60 days of August 31, 2007.
(6)
Includes 1,000,000 shares issuable upon the exercise of outstanding stock options exercisable within 60 days of August 31, 2007.
(7)
Represents shares issuable upon the exercise of outstanding stock options exercisable within 60 days of August 31, 2007.
(8)
Includes 5,000,000 shares issuable upon the exercise of warrants. The documents governing Lincoln Ventures, LLC’s (“Lincoln”) warrants contain a provision prohibiting Lincoln from exercising warrants for shares of Common Stock if doing so would result in it and its affiliates beneficially owning shares of Common Stock representing more than 9.99% of the outstanding shares of Common Stock as determined under Section 13(d) of the Securities Exchange Act of 1934. If Swartz Private Equity LLC (“Swartz”) were determined to be an affiliate of Lincoln, then Lincoln’s exercisable warrant position would be reduced to the extent necessary to limit the combined beneficial ownership of Lincoln and Swartz to 9.99% of the Company’s outstanding Common Stock.
(9)
Includes 5,600,000 shares issuable upon exercise of outstanding stock options exercisable within 60 days of August 31, 2007.
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