<PAGE> 1
Filed pursuant to rule 424(b)(3)
Reg. No. 333-35455
SELLING SECURITY HOLDERS
The following table provides certain information regarding the beneficial
ownership of the Common Shares of the Company as of September 5, 1997 by each
Selling Security Holder, and as adjusted to reflect the sale of the securities
offered hereby, by the Selling Security Holders. Except as otherwise indicated,
to the knowledge of the Company, all persons listed below have sole voting and
investment power with respect to their securities.
<TABLE>
<CAPTION>
COMMON SHARES
COMMON SHARES BENEFICIALLY
BENEFICIALLY COMMON SHARES OWNED AFTER
OWNED PRIOR TO TO BE SOLD THE OFFERING(3)
NAME OF THE OFFERING(1) IN THE OFFERING(1) -----------------
SELLING SECURITY HOLDER NUMBER NUMBER NUMBER PERCENT
----------------------- --------------- ------------------ ------ -------
<S> <C> <C> <C> <C>
Kyneton Investments Ltd. 144,898 144,898 -- --
Theodore Meisel 21,466 21,466 -- --
Ralphael, LP 32,199 32,199 -- --
AG Super Fund International
Partners, LP 21,466 21,466 -- --
GAM Arbitrage, Inc. 59,032 59,032 -- --
Angelo, Gordon & Coe, LP 59,032 59,032 -- --
AG Super Fund, LP 64,399 64,399 -- --
AG ARB Partners, LP 53,666 53,666 -- --
Olympus Securities, Ltd.(2) 529,276 188,367 340,909 2.0
Nelson Partners(2) 689,201 348,292 340,909 2.0
LaRocque Trading Group, LLC 17,173 17,173 -- --
Kessler Asher Group Limited Partnership 10,733 10,733 -- --
Ronald H. Means 21,466 21,466 -- --
LICAP Partners 58,876 58,876 -- --
Silverton International Fund Limited 218,689 218,689 -- --
Global Bermuda L.P. 310,189 310,189 -- --
Lakeshore International Ltd. 53,666 53,666 -- --
The Nicollet Fund L.P. 126,115 126,115 -- --
Steven A. Amos 33,272 33,272 -- --
Emeritaatsfonds 216,595 216,595
Gereformeerde
Kerken in Nederland
Belmundo Investments Pension Fund
of the Dutch Reformed 51,735 51,735 -- --
Q Investments, L.P. 53,666 53,666 -- --
Amalgamated Gadget, L.P. 53,666 53,666 -- --
Linda Cappello 77,432 77,432 -- --
Gerard K. Cappello 75,716 75,716 -- --
Lawrence K. Fleischman 37,204 37,204 -- --
Index Special Situations Fund, Ltd. 8,538 8,538 -- --
Jean Pierre Seiman 51,733 51,733 -- --
RAF Financial Corporation 63,467 63,467 -- --
Robert L. Long 63,467 63,467 -- --
Donald & Co. Securities Inc. 38,056 38,056 -- --
</TABLE>
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(1) Includes such number of Common Shares estimated to be issuable upon
conversion of the Series A and Series B Preferred Shares, assuming the
market price of $7.3125 per share of Common Shares on September 5, 1997 is
used to determine the Common Shares issuable on such conversion. Also
includes such number of Common Shares estimated to be issuable upon
conversion of 50,155 Series B Preferred Shares that may be acquired
pursuant to the exercise of certain outstanding warrants. The actual number
of such Common Shares may be greater or lesser than the indicated amount as
a result of the application of the conversion provisions at the actual date
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