Strategic Internet Investments, Incorporated
Share Capital as at October 31, 2005 (Unaudited)
|
COMMON SHARES |
|
Authorized |
100,000,000 |
Par Value |
$0.001 |
Issued |
27,610,326
|
|
|
|
|
|
|
|
Shares controlled by management |
35.6% (9,845,172) |
|
|
PREFERRED SHARES |
|
A. SERIES "A" CONVERTIBLE |
|
Authorized |
10,000,000 |
Par Value |
$0.001 |
Issued |
1,466,750 |
Escrowed |
1,268,750 |
Outstanding |
198,000 |
Designations, Preferences and Rights Of Series "A" Convertible |
|
|
|
B. SERIES "B" |
|
Authorized |
10,000,000 |
Par Value |
$0.001 |
Issued and Outstanding |
NIL |
DERIVATIVE SECURITIES (Potential Dilution)
Officers Directors and Employee Stock Option Plan
The Company’s board of directors approved a stock option plan. Under the plan directors, employees and consultants may be granted options to purchase common stock of the Company at a price of not less than 100% of the fair market value of the stock. The total number of options granted must not exceed 15% of the outstanding common stock of the Company. The plan expires on July 1, 2017.
At December 31, 2008, the Company had share purchase options outstanding as follows:
|
| Number of Options |
|
Exercise Price
|
|
Expiry Date
|
|
| 3,725,000 |
|
$0.15
|
|
June 1, 2013
|
| 400,000 |
|
$0.15
|
|
Sept. 30, 2013
|
|
| 4,125,000 |
|
|
|
|
Convertible Loan Facilities
On August 10, 2003 the Company entered into a Convertible Loan Facility Agreement with Star Leisure & Entertainment Inc. (“Star Leisure”), a company controlled by a Director and Officer of Strategic, whereby the Company would, from time to time, borrow operating funds from Star Leisure, at an interest rate of 10%, repayable on demand. The lender has the right to convert all or part of the principal sum into units at a conversion rate which is calculated at a discount to the average closing market price for ten days preceding a loan advance. Each unit consists of one common share of the Company and one non-transferable share purchase warrant, expiring 2 years from the conversion date, exercisable at the applicable conversion rate. On August 31, 2008 the Company entered into to transfer previous advances and accrued interest to convertible loans under the Convertible Loan Facility Agreement. At December 31, 2008, the Star Leisure loan principal was $255,209 and had accrued interest of $22,052. The loan principal is convertible into 4,526,436 units at conversion price ranging from $0.05 to $0.12 as set at the time the principal was borrowed. Star Leisure has not converted any part of the principal sums advanced into units as of September 30, 2008.
On May 5, 2006 the Company entered into a Convertible Loan Facility Agreement with CMB Investments Ltd. (“CMB”), a company controlled by a Director of Strategic, whereby the Company would, from time to time, borrow operating funds from CMB, at an interest rate of ten percent (10%), repayable on demand. The lender has the right to convert all or part of the principal sum into units at a conversion rate which is calculated at a discount to the average closing market price for ten days preceding a loan advance. Each unit consists of one common share of the Company and one share purchase warrant, expiring 2 years from the conversion date, exercisable at the applicable conversion rate. At December 31, 2008, the CMB loan principal was $163,766 and had accrued interest of $17,804. The loan principal is convertible into 2,320,858 units. Conversion of this loan and associated warrants to equity will be at a price ranging from $0.05 to $0.23
Warrants
As of April 14, 2009 there are no warrants outstanding.
