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Previous: INETVISIONZ INC, 10SB12G/A, EX-10.15, 2000-12-22 |
Next: INETVISIONZ INC, 10SB12G/A, EX-10.17, 2000-12-22 |
<PAGE>
EXHIBIT 10.16
EQUITY SCHEDULE
<PAGE>
<TABLE>
<CAPTION>
<S><C>
SEC RESOLUTION - 11/02/2000 (CONF CALL) HISTORICAL INFORMATION AS RECORDED OTCBB
---------------------------------- -----
w/ Melanie Dolan & Sharon Virga SHARES $ PER SH AMOUNT FMV DISCOUNT ADJ. FMV EXPENSE GRANTED
------- -------- ------- --- -------- -------- ------- -------
Beginning Balance 1/1/1998 1,142,857 $108,240
------------- --------
PRIVATE PLACEMENTS:
APRIL 1998 PRIVATE PLACEMENT
Ron J. Shannon 4/3/1998 200,000 0.09 17,000 0.09 0% 0.09 -
Mark R. Shannon 4/3/1998 200,000 0.09 17,000 0.09 0% 0.09 -
Starr Shannon 4/3/1998 200,000 0.09 17,000 0.09 0% 0.09 -
Alpine Mercantile 4/3/1998 114,000 0.09 9,690 0.09 0% 0.09 -
Earl Shannon 4/3/1998 200,000 0.09 17,000 0.09 0% 0.09 -
Peter Mettler 4/3/1998 200,000 0.09 17,000 0.09 0% 0.09 -
------------- ---------- --------
1,114,000 94,690 -
------------- ---------- --------
MAY TO SEPTEMBER 1998 PRIVATE PLACEMENT
Nizar Jiwa Jun-98 100,000 0.15 15,000 0.15 0% 0.15 -
Winthrop Venture Fund Jun-98 100,000 0.15 15,000 0.15 0% 0.15 -
Winthrop Trust Jun-98 100,000 0.15 15,000 0.15 0% 0.15 -
Bombaywala Family Trust Jun-98 100,000 0.15 15,000 0.15 0% 0.15 -
Peter Mettler Jun-98 100,000 0.15 15,000 0.15 0% 0.15 -
Nazir Khaja Jun-98 100,000 0.15 15,000 0.15 0% 0.15 -
ZT Worldwide Group Jun-98 100,000 0.15 15,000 0.15 0% 0.15 -
Tariq Roomi Jun-98 100,000 0.15 15,000 0.15 0% 0.15 -
Steven W. Hudson Jun-98 100,000 0.15 15,000 0.15 0% 0.15 -
Montaque Securities Sep-98 200,000 0.15 30,000 1.00 0% 1.00 170,000
Noreen Khan Sep-98 300,000 0.15 45,000 1.00 0% 1.00 255,000
------------- ---------- --------
1,400,000 210,000 425,000
------------- ---------- ---------
SEPTEMBER 1998 PRIVATE PLACEMENT
Robert M and Mary R. Renfro 9/10/1998 25,000 1.00 25,000 1.00 0% 1.00 -
Steven W. Hudson 9/10/1998 50,000 1.00 50,000 1.00 0% 1.00 -
Holly J. Hudson 9/10/1998 50,000 1.00 50,000 1.00 0% 1.00 -
Ishrat Laeeque 9/10/1998 50,000 1.00 50,000 1.00 0% 1.00 -
Dennis Marradie (IRA) 9/10/1998 5,000 1.00 5,000 1.00 0% 1.00 -
------------- ---------- ---------
180,000 180,000 -
------------- ---------- ---------
DECEMBER 1998 PRIVATE PLACEMENT
------------- ---------- ---------
Richard and Laura Gladstone 12/11/1998 400,000 0.63 250,000 0.63 0% 0.63 -
------------- ---------- ---------
TOTAL PRIVATE PLACEMENTS 3,094,000 734,690 425,000
============= ========== =========
SERVICES RENDERED:
Peter Zmudski 9/21/1998 250,000 0.63 157,000 1.00 0% 1.00 93,000
Jack Madha May-98 50,000 0.15 7,500 0.15 0% 0.15 -
Noreen Khan May-98 200,000 0.15 30,000 0.15 0% 0.15 -
Noreen Khan May-98 800,000 0.35 280,000 0.35 0% 0.35 -
Ramsey Hakim May-98 250,000 0.35 87,500 0.35 0% 0.35 -
Tariq Khan May-98 500,000 0.35 175,000 0.35 0% 0.35 -
------------- ---------- ---------
TOTAL SERVICES RENDERED 2,050,000 737,000 93,000
============= ========== ---------
NOVAQUEST ACQUISITION:
NovaQuest 9/21/1998 200,000 0.96 192,308 1.00 0% 1.00
Greg Goeser 9/21/1998 29,133 0.96 28,013 1.00 0% 1.00
Asif Hudani 9/21/1998 76,160 0.96 73,231 1.00 0% 1.00
Zeb Bhatti 9/21/1998 150,707 0.96 144,911 1.00 0% 1.00
Dr. Nasir Khaja 9/21/1998 54,400 0.96 52,308 1.00 0% 1.00
Sheila Johns 9/21/1998 9,600 0.96 9,231 1.00 0% 1.00
------------- ---------- ---------
TOTAL NOVAQUEST ASSET PURCHASE 520,000 500,000 -
------------------------------
============= ========== ---------
BALANCE AT 12/31/98 PER FINANCIAL
STATEMENT 6,806,857 2,079,930 518,000
============= ========== =========
PRIVATE PLACEMENTS:
Francis & Floyd Horwitz Dec-99 200,000 0.25 50,000 0.72 0% 0.72 93,600
------------- ---------- ---------
TOTAL PRIVATE PLACEMENTS: 200,000 50,000 93,600
============= ========== ---------
SERVICES RENDERED:
Ramsey Hakim (Over 1 year period) Nov-98 100,000 0.45 45,000 1.68 0% 1.68 123,000
Manhattan West (Over 1 year period) Nov-98 66,667 0.45 30,000 1.68 0% 1.68 82,000
Winthrop Venture Management Ltd
(Over 1 year period) Nov-98 66,667 0.45 30,000 1.68 0% 1.68 82,000
------------- ---------- ---------
TOTAL SERVICES RENDERED 233,334 105,000 287,001
============= ========== ---------
SEC RESOLUTION - 11/02/2000 (CONF CALL)
RELATIONSHIP
w/ Melanie Dolan & Sharon Virga STOCK OPTIONS DEBT CONVERSION TO OFFICER
------------- --------------- INTEREST OR PRINCIPAL
VESTED EX PRICE EXPENSE RATE AMOUNT SHARES EXPENSE SHAREHOLDER
Beginning Balance ------ -------- ------- ------ ------- ------- -------- ------------
PRIVATE PLACEMENTS:
APRIL 1998 PRIVATE PLACEMENT
Ron J. Shannon Unrelated
Mark R. Shannon Unrelated
Starr Shannon Unrelated
Alpine Mercantile Unrelated
Earl Shannon Unrelated
Peter Mettler Unrelated
------- --------
- -
------- --------
MAY TO SEPTEMBER 1998 PRIVATE PLACEMENT
Nizar Jiwa Unrelated
Winthrop Venture Fund Unrelated
Winthrop Trust Unrelated
Bombaywala Family Trust Unrelated
Peter Mettler Unrelated
Nazir Khaja Unrelated
ZT Worldwide Group Unrelated
Tariq Roomi Unrelated
Steven W. Hudson Unrelated
Montaque Securities Unrelated
Noreen Khan President
------- --------
- -
------- --------
SEPTEMBER 1998 PRIVATE PLACEMENT
Robert M and Mary R. Renfro Unrelated
Steven W. Hudson Unrelated
Holly J. Hudson Unrelated
Ishrat Laeeque Unrelated
Dennis Marradie (IRA) Unrelated
------- --------
- -
------- --------
DECEMBER 1998 PRIVATE PLACEMENT
Richard and Laura Gladstone Unrelated
------- --------
- -
------- --------
TOTAL PRIVATE PLACEMENTS
------- --------
- -
======= ========
SERVICES RENDERED:
Peter Zmudski Unrelated
Jack Madha Unrelated
Noreen Khan President
Noreen Khan President
Ramsey Hakim Director
Tariq Khan Son of President
TOTAL SERVICES RENDERED
------- --------
- -
------- --------
NOVAQUEST ACQUISITION:
NovaQuest Seller of certain assets
Greg Goeser Unrelated
Asif Hudani Unrelated
Zeb Bhatti Unrelated
Dr. Nasir Khaja Unrelated
Sheila Johns Unrelated
------- --------
- -
------- --------
TOTAL NOVAQUEST ASSET PURCHASE
------- --------
- -
------- --------
BALANCE AT 12/31/98 PER FINANCIAL
STATEMENT ======= ========
PRIVATE PLACEMENTS:
Francis & Floyd Horwitz Parents of Director
------- --------
- -
------- --------
TOTAL PRIVATE PLACEMENTS:
SERVICES RENDERED:
Ramsey Hakim (Over 1 year period) Director
Manhattan West (Over 1 year period) Owned by Son of President
Winthrop Venture Management Ltd
(Over 1 year period) Unrelated
------- --------
TOTAL SERVICES RENDERED
------- --------
<PAGE>
HISTORICAL INFORMATION AS RECORDED OTCBB
---------------------------------- -----
SHARES $ PER SH AMOUNT FMV DISCOUNT ADJ. FMV EXPENSE
------- -------- ------- --- -------- -------- -------
Tariq Khan * 9/15/1999 565,000 0.20 113,000 at 5/98 0.15 0% 0.15
Noreen Khan * 11/12/1999 215,000 0.20 43,000 at 5/98 0.15 0% 0.15
Tariq Khan * 12/5/1999 2,635,000 0.20 527,000 at 5/98 0.15 0% 0.15
Noreen Khan * 12/30/1999 52,435 0.20 10,487 at 5/98 0.15 0% 0.15
Laguna Pacific Partners Dec-99 0.72 0% 0.72
Strawberry Canyon Dec-99 0.72 0% 0.72
Knightrider Investments Dec-99 0.72 0% 0.72
-------------- ---------- -------
TOTAL CONVERTIBLE DEBT 3,467,435 693,487 -
============== ========== -------
* Pursuant to Convertible Debt
agreement dated 5/98
STOCK OPTIONS - CONSULTANTS:
Lawrence W. Horwitz 11/12/1999 60,000 0.88 0% 0.88
Rajiv Vohra - Granted Mar-99 1.26 0% 1.26
Rajiv Vohra - Cancelled Mar-99 1.26 0% 1.26
Rajiv Vohra - Exercised Mar-99 300,000 0.25 75,000 1.26 0% 1.26
Tariq Khan 11/11/1999 0.88 0% 0.88
-------------- ---------- -------
TOTAL STOCK OPTIONS - CONSULTANTS 300,000 135,000 -
-------------- ---------- -------
STOCK OPTIONS EMPLOYEES:
Noreen Khan 11/11/1999 0.88 0% 0.88
Meenaz Hudani 11/11/1999 0.88 0% 0.88
Linda Ruby 11/11/1999 0.88 0% 0.88
Ramsey Hakim 11/11/1999 0.88 0% 0.88
Mahin Samadani 11/11/1999 0.88 0% 0.88
Felicito Cajayon 11/11/1999 0.88 0% 0.88
Helen Baker 11/11/1999 0.88 0% 0.88
Steven Moch 11/11/1999 0.88 0% 0.88
Patricia Columbo 11/11/1999 0.88 0% 0.88
Tom Keller 11/11/1999 0.88 0% 0.88
Mehraj Hudani 11/11/1999 0.88 0% 0.88
William Chavez 11/11/1999 0.88 0% 0.88
Samuel Gengo 11/11/1999 0.88 0% 0.88
Jesus Espinoza 11/11/1999 0.88 0% 0.88
Collin Bradford 11/11/1999 0.88 0% 0.88
Chad Cantwell 11/11/1999 0.88 0% 0.88
Regina Bolden 11/11/1999 0.88 0% 0.88
Adil Boguirov 11/11/1999 0.88 0% 0.88
Mark Webb 11/11/1999 0.88 0% 0.88
Mike Soohoo 11/11/1999 0.88 0% 0.88
Fahd Shaaban 11/11/1999 0.88 0% 0.88
Mona Mulhady 11/11/1999 0.88 0% 0.88
Kevin Falk 11/11/1999 0.88 0% 0.88
Yohannes Amin 11/11/1999 0.88 0% 0.88
Minhaj Ali 11/11/1999 0.88 0% 0.88
Donaciano Vigil 11/11/1999 0.88 0% 0.88
Lourdes Baez 11/11/1999 0.88 0% 0.88
Joseph Kalish 11/11/1999 0.88 0% 0.88
Larissa Cozza 11/11/1999 0.88 0% 0.88
Kailash Samatani 11/11/1999 0.88 0% 0.88
Mary Patrick 11/11/1999 0.88 0% 0.88
Tanvir Rajpoot 11/11/1999 0.88 0% 0.88
Gene Trumble 11/11/1999 0.88 0% 0.88
-------------- ---------- -------
TOTAL STOCK OPTIONS EMPLOYEES 0 0 0
-------------- ---------- -------
TOTAL STOCK OPTIONS 300,000 135,000 -
============== ========== -------
SUBTOTAL 11,007,626 3,063,417
============== ========== -------
OTHER NON-CASH COMPENSATION EXPENSE 2,291,463 898,601
-------------- ---------- =======
BALANCE AT 12/31/99 PER FINANCIAL 11,007,626 $5,354,880
STATEMENT
============== ==========
Less Equity amount at 12/31/99 as currently
presented 3,063,417
----------
<CAPTION>
SEC RESOLUTION - 11/02/2000 (CONF CALL)
RELATIONSHIP
w/ Melanie Dolan & Sharon Virga STOCK OPTIONS DEBT CONVERSION FEATURES TO OFFICER
------------- ------------------------ INTEREST OR PRINCIPAL
GRANTED VESTED EX PRICE EXPENSE RATE AMOUNT SHARES EXPENSE SHAREHOLDER
Beginning Balance ------- ------ -------- ------- ------ ------- ------- -------- -----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CONVERTIBLE DEBT:
Tariq Khan * 0.20 113,000 565,000 113,000 Son of
President
Noreen Khan * 0.20 43,000 215,000 43,000 President
Tariq Khan * 0.20 527,000 2,635,000 527,000 Son of
President
Noreen Khan * 0.20 10,487 52,435 10,487 President
Laguna Pacific Partners 0.30 7,500 25,000 7,500 Partially
Owned by
Director
Strawberry Canyon 0.30 142,500 475,000 142,500 Partially
Owned by
Director
Knightrider Investments 0.30 100,000 333,333 100,000 Investor
------------ ----------------------------
TOTAL CONVERTIBLE DEBT - 943,487 4,300,768 943,487
------------ ----------------------------
* Pursuant to Convertible Debt agreement
dated 5/98
STOCK OPTIONS - CONSULTANTS:
Lawrence W. Horwitz 300,000 60,000 1.75 60,000 Director
Rajiv Vohra - Granted 500,000 500,000 0.25 630,000 Consultant
Rajiv Vohra - Cancelled (200,000) (200,000) 0.25 (252,000) Consultant
Rajiv Vohra - Exercised (300,000) (300,000) 0.25 Consultant
Tariq Khan 13,000 13,000 1.00 11,375 Consultant
---------------------------- ---------- ---------
TOTAL STOCK OPTIONS - CONSULTANTS 313,000 73,000 449,375 -
---------------------------- ---------- ---------
STOCK OPTIONS EMPLOYEES:
Noreen Khan 199,000 199,000 1.00 - President
Meenaz Hudani 25,000 25,000 1.00 - Employee
Linda Ruby 50,000 50,000 1.00 - Employee
Ramsey Hakim 13,000 13,000 1.00 - Director
Mahin Samadani 10,000 10,000 1.00 - Employee
Felicito Cajayon 35,000 35,000 1.00 - Employee
Helen Baker 4,000 4,000 1.00 - Employee
Steven Moch 4,000 4,000 1.00 - Employee
Patricia Columbo 4,000 4,000 1.00 - Employee
Tom Keller 3,000 3,000 1.00 - Employee
Mehraj Hudani 27,000 27,000 1.00 - Employee
William Chavez 2,000 2,000 1.00 - Employee
Samuel Gengo 2,000 2,000 1.00 - Employee
Jesus Espinoza 2,000 2,000 1.00 - Employee
Collin Bradford 2,000 2,000 1.00 - Employee
Chad Cantwell 2,000 2,000 1.00 - Employee
Regina Bolden 2,000 2,000 1.00 - Employee
Adil Boguirov 2,000 2,000 1.00 - Employee
Mark Webb 2,000 2,000 1.00 - Employee
Mike Soohoo 2,000 2,000 1.00 - Employee
Fahd Shaaban 2,000 2,000 1.00 - Employee
Mona Mulhady 2,000 2,000 1.00 - Employee
Kevin Falk 2,000 2,000 1.00 - Employee
Yohannes Amin 2,000 2,000 1.00 - Employee
Minhaj Ali 2,000 2,000 1.00 - Employee
Donaciano Vigil 2,000 2,000 1.00 - Employee
Lourdes Baez 1,000 1,000 1.00 - Employee
Joseph Kalish 1,000 1,000 1.00 - Employee
Larissa Cozza 1,000 1,000 1.00 - Employee
Kailash Samatani 1,000 1,000 1.00 - Employee
Mary Patrick 1,000 1,000 1.00 - Employee
Tanvir Rajpoot 1,000 1,000 1.00 - Employee
Gene Trumble 1,000 1,000 1.00 - Employee
------- ------- ------- --------
TOTAL STOCK OPTIONS EMPLOYEES 411,000 411,000 0 0
------- ------- ------- --------
TOTAL STOCK OPTIONS 724,000 464,000 418,375 -
======= ======= ------- --------
SUBTOTAL -------
-------
OTHER NON-CASH COMPENSATION EXPENSE 418,375 943,487
======= =======
BALANCE AT 12/31/99 PER FINANCIAL STATEMENT
Less Equity amount at 12/31/99 as currently
presented
<PAGE>
ADDITIONAL COMPENSATION $2,291,463
==========
ADJUSTMENTS WOULD BE AS FOLLOWS: 2000 1999 1998 1998 548,000 - 200,000
----- ----- -----
1999 350,601 449,375 514,320
Net loss as presented $ (1,746,041) $ (1,455,100) 2000 - - 229,167
---------- ----------- --------
Adjustments as per above:
Compensation expense 799,976 548,000 898,601 449,375 943,487
-------- ------------- --------
Interest expense - (Laguna, Strawberry 229,167 20,833 -
& Knightrider)
Interest expense - Tariq & Noreen Khan 493,487 200,000
-------------------- ----------------
$ (3,060,337) $ (2,203,100)
-------------------- ----------------
-
1,314,296 748,000
</TABLE>
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