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#2 contain the Debenture features and no reduction in our present
outstanding Common Stock. Shoets #3 and #4 are based on issuing
new Proferred Stock and a reduction of our present outstanding
Common Stock from 15,000 to 3,000 shares. Of course a reduction
or no reduction in our present outstending Common Stock may be ap-
plied to either type Balanco Shest.
These Proforma Balance Sheets teke into consideration
a write-down of the assets carried on our present Balanes Sheet,
as follows:
Book
Write-Down
Loss
Value
To
Land & Building
40000,
25000.
15000.
Good mill Patents
200000.
1.
199999.
Estimated Reserve for
Loss in sale of securities
10000.
224999.
These may be used as guides in compiling any set-up which seems
desirable to offer to our Stockholders, In the case of shoets
#3 and #4, while the declared value of the Proforred Stock for
Balance Sheet purposes is shown at $50. per share; the stock should
carry callable or liquidating provision of $100. per share. Such
a stipulation would give the Preferred Stockholdors practically a
100% call on the assets of the Corporation.
7.
Provision for Management Participation
a.
There is a thought that in any re-orgsnisation, certain provisions
should be made to compensate management for its yeara of faithful
service, and fature successes of the Corporation for which it may
be largely responsible. This could be done in several ways) the
following being typical examples:
(1.)
In the redeaption of the present Preferred Stock, we could offer
to pay our Proferred Stockholders per share for 80% of their
holdinge and give ona share of new Preferred and one share of new
Common for each two shares of stock 80 turned in. For 20% of their
holdings, the Corporation would pay $50. per share; this stock to
go to the Troasury of the Corporation to be iasued to management
personnel at a certain stipulated price - say $25. par share.
(2.)
An amount of Common Stock in excess of requirements to take care
of present Stockholders could be authorised and kept in the Treasury
to be aold to management personnol at a stipulated price. This
Common Stock provision could also be arranged in conjunction with
any arrangement made on Proferred Stock.
(3.)
An arrengement carrying a certain percentago of the profits might
also be worked out for the management personnel.
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"ocrText": "Page\n#2 contain the Debenture features and no reduction in our present\noutstanding Common Stock. Shoets #3 and #4 are based on issuing\nnew Proferred Stock and a reduction of our present outstanding\nCommon Stock from 15,000 to 3,000 shares. Of course a reduction\nor no reduction in our present outstending Common Stock may be ap-\nplied to either type Balanco Shest.\nThese Proforma Balance Sheets teke into consideration\na write-down of the assets carried on our present Balanes Sheet,\nas follows:\nBook\nWrite-Down\nLoss\nValue\nTo\nLand & Building\n40000,\n25000.\n15000.\nGood mill Patents\n200000.\n1.\n199999.\nEstimated Reserve for\nLoss in sale of securities\n10000.\n224999.\nThese may be used as guides in compiling any set-up which seems\ndesirable to offer to our Stockholders, In the case of shoets\n#3 and #4, while the declared value of the Proforred Stock for\nBalance Sheet purposes is shown at $50. per share; the stock should\ncarry callable or liquidating provision of $100. per share. Such\na stipulation would give the Preferred Stockholdors practically a\n100% call on the assets of the Corporation.\n7.\nProvision for Management Participation\na.\nThere is a thought that in any re-orgsnisation, certain provisions\nshould be made to compensate management for its yeara of faithful\nservice, and fature successes of the Corporation for which it may\nbe largely responsible. This could be done in several ways) the\nfollowing being typical examples:\n(1.)\nIn the redeaption of the present Preferred Stock, we could offer\nto pay our Proferred Stockholders per share for 80% of their\nholdinge and give ona share of new Preferred and one share of new\nCommon for each two shares of stock 80 turned in. For 20% of their\nholdings, the Corporation would pay $50. per share; this stock to\ngo to the Troasury of the Corporation to be iasued to management\npersonnel at a certain stipulated price - say $25. par share.\n(2.)\nAn amount of Common Stock in excess of requirements to take care\nof present Stockholders could be authorised and kept in the Treasury\nto be aold to management personnol at a stipulated price. This\nCommon Stock provision could also be arranged in conjunction with\nany arrangement made on Proferred Stock.\n(3.)\nAn arrengement carrying a certain percentago of the profits might\nalso be worked out for the management personnel."
}