Kag: BOCX does identify restricted shares in the portion of the 10-k that discusses share issuances. There is no tally, but you can see that the number of restricted issuances is small.
What we don't know, is the type of stock owned by the "Moro cronies" that we spend so much time discussing back with Steve @ RB. They are suspected to be large shareholders and I have a feeling they own restricted stock.
Here is a sample of 2005, in which only 50,000 restricted shares were registered:
a) In August 2005, the Company issued 77,266 shares of common stock at $0.75 per share for proceeds of $57,950.
b) In July 2005, the Company issued 20,000 shares of common stock for legal services received. The value of the services totaled $23,000, which was determined based on the closing price of the stock on the date of approval by the Board of Directors.
c) In July 2005, the Company entered into a consulting and marketing service agreement for a period of ninety days. The Company issued 50,000 restricted shares of common stock at the fair market value of $1.00 per share. The fair market value was determined based on the closing price of the stock on the date of approval by the Board of Directors.
d) In June 2005, the Company issued 600,000 share of common stock at $0.10 per share pursuant to exercise of warrants for proceeds of $60,000.
e) In June 2005, the Company issued 4,545 shares of common stock for $5,000. Subscription receivable was recorded which was equal to the exercise price times the number of options exercised.
f) In June 2005, the Company issued 135,000 shares of common stock at $1.00 per share for proceeds of $135,000.
g) In May 2005, the Company issued 682,714 shares of common stock at $0.21 per share pursuant to exercise of warrants for proceeds of $143,367.
h) In May 2005, the Company issued 25,000 shares of common stock at $1.00 per share for proceeds of $25,000.
i) In May 2005, the Company issued 15,000 shares of common stock with the fair market value at $18,900 to an employee for a performance bonus.
j) In April 2005, an employee exercised 5,000 options to purchase the Company's common stock for $3,000. The Company received a note receivable for $3,000.
k) In March 2005, the Company issued 213,576 shares of common stock pursuant to the exercise of 272,903 warrants by a note holder. The method of payment was based on the cashless exercise provision of the stock purchase warrant.
l) In March 2005, two directors exercised 1,750,000 options to purchase the Company's common stock for $1,750. Subscription receivable was recorded which was equal to the exercise price times the number of options exercised.
m) In March 2005, a director exercised 450,000 warrants to purchase the Company's common stock for $450. Subscription receivable was recorded which was equal to the exercise price times the number of options exercised.
n) In March 2005, the Company issued 25,000 shares of common stock at $0.07 per share pursuant to the exercise of warrants for proceeds of $1,750.
o) In March 2005, the Company issued 50,000 shares of common stock at $0.21 per share pursuant to the exercise of warrants for proceeds of $10,500.
