The Unabridged History of Winners and Losers

[Tatari Gami]

Posted by: BillBranum
In reply to: None Date:2/6/2001 5:11:06 PM
Post #of 14583


I just spoke with Rich

And would like to share his answer to my concerns about the “missing” stock. He states that when the original 5,000,000 shares were issued, 1,170,000 of these new shares went to the group responsible for bring Seaview and Gopher together. This is the source of the shares referred to in the follow quote from the 10Q filed 8/14/2000:

On April 17, 2000 the Company entered into a pooling lock up agreement with the
following parties holding 921,000 shares of restricted stock held for over one
year from the original reverse merger with Gopher, Inc.

Bon Temps Roule Inc. 230,000 shares
Gregory Fox 120,000 shares
Jason Fox 110,000 shares
Tuscano Investments 195,000 shares
John J. Doria 100,000 shares
Calvin Mitchel 100,000 shares
Catherine Kaier 5,000 shares
Joeseph Horshel 6,000 shares
Ronald Glickman 5,000 shares

The agreement restricts the sale of stock for the period April 2000 through
April 2001 to 1/12th of the total holdings. The stock is held with the Company's
transfer agent and an opinion letter is required each month for release of the
shares.

I accept Rich’s explanation of this transaction. It does seem to me a high price to pay to go public (1,000,000 shares originally outstanding in Gopher; 1,170,000 shares to the group above; and 1,430,000 to the group in the S-8 filed on 4-18-99), but I am not an expert in this area, and besides, at this point they were all Rich’s shares anyway.

In regard to the question of the Springs, I accept the explanation offered on the following link:
http://www.investorshub.com/beta/read_msg.asp?message_id=45870

All of the concerns I had about stock transactions have been answered to my satisfaction.

Bill Branum