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RUBY1100

02/22/06 6:53 PM

#24323 RE: CobraJet #24322

Cobra back in the day prior pre Offor with S.Bass and Tirman we ran out of cash and had to print shares at sub $.10 prices

300-500 MM or so was an ugly period everyone got paid in stock

2001 - EO stepped in and plugged the leak but issued a couple 100 MM as well




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Mongo1071

02/23/06 1:36 PM

#24550 RE: CobraJet #24322

Here you go Cobrajet

30-Jan-06 0.35 - 710,912,226
31-Jan-05 0.50 - 604,911,656
30-Jan-04 0.30 - 586,074,034
30-Jan-03 0.09 - 558,588,150
30-Jan-02 0.23 - 536,911,938
* OS from previous 10K

And back to the beginning of this chapter in the company's history....

O/S in January 2001 estimated 281,497,051.

"...As more fully described in Items 5 and 6 below, Chrome paid $6,000,000 to purchase the 281,497,051 shares of the Common Stock it is deemed to beneficially own and the 116,629,564 shares it transferred to its financial
advisors subsequent to February 15, 2001.

From January 2001 to January 2006 about 430,000,000 shares appear to have been issued. About 60 months. About 1,830 days. Or just under 235,000 per day, each and every day for five straight years. And according to the latest filing the company has a working capital deficit of $1,758,428. Think about it.

Next...

From the 10Ks

http://www.sec.gov/Archives/edgar/data/799235/000110465903029312/a03-6539_110k.htm

http://www.sec.gov/Archives/edgar/data/799235/000114420404023079/v010516_10-k.htm

http://www.sec.gov/Archives/edgar/data/799235/000114420405041512/v032348_10k.txt

Operating expenses, debt service, A&O & interest
2001-$6,394,810
2002-$4,084,210
2003-$3,153,882
2004-$3,757,185
2005-$11,270,478

Total of 5 years = $28,660,555 or $5,732,113 per year or $477,676 per month (pretty remarkable for a few part timers out of shared office space, but that's a whole nother story)

So a five year average operating cost per month is about per $477,000 month, and that's a whole lotta shares at anywhere between a dime and $.90.

Mongrel