From: Doug Bailey (Doug.Bailey@ey.com)
Date: Fri Aug 28 1998 - 15:38:22 MDT
One thing I should have mentioned in my original posting is
the fact that NDTC's current offering is not technically a
IPO but a DPO. The direct public offering is offered to individuals
in one state under a special SEC exclusion that allows them to
save money on the front end. Unfortunately, if you are not a
resident of the State of New York you can't participate in
the DPO.
The proceeds from the DPO (US$ 1,000,000) are being used to fund
the development of a video to support the much larger IPO
that should take place in 1999. The IPO will be open to
any and everyone.
If you're crafty you might set up a trust in New York to purchase
stock in the DPO but I'm not savvy enough in securities law to
determine whether that would fly with the SEC.
Doug
doug.bailey@ey.com
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