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Message: Re: S & L share count ... BaN

Dec 26, 2007 01:03PM
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Dec 26, 2007 01:48PM

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Dec 26, 2007 03:58PM

The last DEF 14 showed Lincoln Ventures having 29.6MM shares which included warrants for an additional 5MM shares. Note 9 (Subsequent Events) from the last 10Q recorded the repurchase of those warrants by PTSC, 2MM on 9/4 and 3MM on 10/2. Based on this, and assuming they didn't buy additional shares (which I think everyone would agree is a fair assumption), Lincoln Ventures held no more than 24.6MM shares as of 10/2.

The DEF 14 also shows that Swartz Private Equity held an additional 5.76MM shares as of 8/31. Don't know when it was decided that shares held by the two could be enumerated separately.

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