There were outstanding warrants
On May 24, 1996, and June 7, 1996, Lew Lieberbaum and Co., Inc., the Company's Underwriter on its Public Offering, exercised its 133,333 Underwriter's Warrants pursuant to which it paid a total of $543,778.53 to the Company, and there was issued to it 133,333 shares of the Company's Common Stock and 133,333 Class A Warrants.
On June 3, 1996, the Company gave notice to its Class A Warrantholders that it was calling for redemption on July 5, 1996, which period was extended until the close of business on July 17, 1996, all of the Company's outstanding Class A Warrants at a price of $.10 per Warrant pursuant to the terms of the Class A Warrants. A total of 1,609,516 Class A Warrants were outstanding and 1,575,786 of the Class A Warrants were exercised by the close of business on July 17, 1996. A total of $5,909,197.50 was paid to the Company for the exercise of these Warrants resulting in the issuance of 1,575,786 shares of the Company's Common Stock. The remaining unexercised Class A Warrants total 33,730 for which the Company will be making payment of $3,373 for their redemption.
Accordingly, the number of outstanding shares of Common Stock of the Company has been increased from 2,756,183 to 4,465,302
That doubled on the split and over the years have slightly diluted to 10.9mm.
Did they have stock buybacks where Ken Plotkin sold stock into---YES
Have they ran this company for shareholders--ever? No
Did Ken Plotkin use this as an ATM for himself--Yes
Did they keep a closed number of directors over the years YES
Did they run this exciting company like sht--110%
You forgot their acquisition of PCTV among many other tidbits--keep going through.
