1. 2,990,000 preferred shares of 6% convertible exchange preferred stock issued on 11/3/04 at $10 per share.
2. Preferred shares convertible into common stock at conversion rate of approximately 0.42553 shares of common stock for each preferred share.
3. There are about 2 million preferred shares outstanding after deducting those that have already been converted into common stock. Annual cumulative dividend is about $1.2 million based on 2 million preferred shares at 6% of $10.
4. CYCC has reserved 870,980 shares of common stock for issuance upon conversion of the remaining preferred shares as of 12/31/08.
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