Walworth, as promised, some comments from SPZI
(nb: He re-confirmed some items that you have already posted: OTCBB is the target, etc.)
Q- I see quite a few options have been issued to various parties. What is the structure of these options? Are they fully vested? Strike/exercise prices?
PS: "Almost all of these options have been issued to founders and insiders, since only two of us own any stock. The exercise prices vary, but are all less than $ .01. Most of the options are vested. I can’t provide you with an accurate number until the audit is completed because, due to non-dilution provisions, the number of ISOs changes."
Q- Also, it is apparent that Spooz, Inc is out of cash. Future financings coming soon? Will they be dilutive?
PS: "Spooz is in the process of negotiating with multiple venture firms for a significant injection of capital. We anticipate that we will complete the initial part of a funding deal during the first weeks in April."
GLTY