EXHIBIT 10.36
AMENDMENT No. 1 TO SECURITY AND INTERCREDITOR AGREEMENT
THIS AMENDMENT NO. 1, dated as of June 7, 2000, is to that certain
Security and Intercreditor Agreement(the "Agreement"), dated December 1, 1999,
among Biofund, Inc., a Delaware corporation with an address at Xxx X, Xxxxxxxxx,
XX 00000 ("Biofund"), Xxxxxx X. Xxxxxx ("Xxxxxx"), with an address at 00 Xxxxx
Xxxxx Xxxx Xxxx, Xxx X, Xxxxxxxxx, XX 00000, and Epigen, Inc., a Delaware
corporation with an address at Xxxxx Xxxxx Xxxx Xxxx, Xxx X, Xxxxxxxxx, XX 00000
("Epigen"). All capitalized terms used herein shall have the same meanings as in
the Agreement unless otherwise stated. In addition, each of the shareholders of
Biofund whose names appear on the signature page hereof are added as parties to
the Agreement to the extent set forth herein.
RECITALS
1. Epigen obtained a loan from the Bank of Millbrook ("Bank") in the
original principal amount of up to $800,000 (the "First Loan") secured by the
Guaranty. The Guaranty was secured by collateral in the form of certificates of
deposit issued by the Bank aggregating the original principal amount of the
First Loan (the "Security"). Subsequently, Epigen obtained an additional loan
from the Bank in the original principal amount of up to $120,000 (the "Second
Loan"). The Second Loan also was guaranteed by Biofund and secured by collateral
in the form of certificates of deposit issued by the Bank aggregating the
original principal amount of the Second Loan (the "Additional Security").
2. The parties to the Agreement have agreed to modify the terms of the
arrangements set forth in the Agreement regarding the purchase of equity
securities of Epigen pursuant to Paragraph 3.1 of the Agreement and, together
with the other signatories hereto to address certain other matters as herein set
forth.
3. The capitalization table of Epigen attached hereto represents the
capitalization of Epigen, on a fully diluted basis, as of December 31, 1999 is
attached hereto as Exhibit A.
4. The Board of Directors of Epigen, at a meeting duly held on May 3,
2000, has reduced the exercise price per share of Epigen's outstanding options
and warrants with exercise prices of $1.00 per share or greater by one-half. The
Board of Directors of Epigen, at a meeting duly held on June 6, 2000, has
retired all treasury stock of Epigen and restored such stock to the status of
authorized but unissued stock and has revised the number of issued and
outstanding shares of Common Stock to that set forth in the records of Epigen's
transfer agent, American Stock Transfer & Trust Company.
NOW, THEREFORE, in consideration of the foregoing and the covenants and
conditions herein contained, Biofund, Epigen and Fresne, intending to be legally
bound, hereby agree as follows:
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Section 1. EXERCISE OF CONVERSION RIGHT.
(a) As of the date hereof, Biofund has the right to acquire 3,936,680
shares of Epigen's Common Stock at a price of $.01 per share, pursuant to
Section 3.1 of the Agreement. Effective immediately, Epigen hereby grants to
Biofund the right, assignable to its shareholders, immediately to exercise such
right.
(b) Biofund hereby assigns to its shareholders, pro rata, its right to
acquire such shares of Epigen's Common Stock. The number of shares of Epigen
Common Stock each Biofund shareholder shall have the right to acquire and the
aggregate purchase price therefor is set forth on Exhibit B hereto. By executing
this Amendment, each of the shareholders of Biofund hereby exercises his or her
right to acquire the shares of Epigen Common Stock and agrees to pay to Epigen
the purchase price for the shares to be acquired by such Biofund shareholder by
his or her check upon his or her execution of this Amendment. Each such check
shall be returned by the respective shareholders of Biofund to Epigen together
with such shareholder's signed copy of this Agreement.
Section 2. PURCHASE OF NEW SHARES OF EPIGEN SECURITIES.
2.1 SUBSCRIPTION FOR NEW SHARES OF COMMON STOCK. Each of the
shareholders of Biofund whose names appear on Exhibit C hereto (the
"Participating Biofund Shareholders") hereby subscribes for and agrees to
purchase the amount of additional shares of Epigen Common Stock set forth
opposite his or her name on Exhibit C hereto at the price of $.50 per share. The
aggregate purchase price for such shares shall be paid to Epigen by each
Participating Biofund Shareholder concurrently with his or her execution of this
Amendment by wire transfer as follows:
Bank of Millbrook
X.X. Xxx XX
Xxxxxxxxx, XX 00000
ABA No.: 000000000
Account Name: Epigen, Inc. Escrow Account
Account No.: 0000000
Contact: Xxxxxx Xxxxx
2.2 USE OF PROCEEDS FROM SALE OF COMMON STOCK. Epigen hereby agrees
that the entire amount of the proceeds received by it pursuant to Section 2.1
hereof shall be used solely for the purpose of repaying the outstanding
principal amounts of the First Loan and the Second Loan and to release the
Guaranty, the Security and the Additional Security. Upon release of the
Guaranty, the Security and the Additional Security, Biofund shall deliver to
Epigen Termination Statements on Form UCC-3 terminating its security interest in
the Collateral.
2.3 SUBSCRIPTION FOR SHARES OF SERIES B PREFERRED STOCK. Each of W.
Xxxxx Xxxxx ("Xxxxx"),Jr., Xxxxxx Xxxxxxxxx III and Xxxxx Xxxxx (the "Series B
Purchasers") hereby agrees to purchase 75,000 shares of Epigen's Series B
Preferred Stock, par value $.001 per share, at a price of $1.00 per share, or an
aggregate purchase price of $225,000 (the "Series B Proceeds"), which purchase
has been authorized by the Board of Directors of Epigen at its meeting held on
May 7, 2000. The relative rights, preferences and privileges of such Series B
Preferred Stock are set
-20-
forth on Exhibit D hereto. In addition, Epigen may sell up to an additional
275,000 shares of Series B Preferred Stock, also at a price of $1.00 per share,
to such other existing shareholders of Epigen and to such other persons as its
Board of Directors may determine.
2.4 USE OF PROCEEDS FROM SALE OF SERIES B PREFERRED STOCK. Epigen
hereby acknowledges receipt of the entire amount of the Series B Proceeds, which
are on deposit at the Bank of Millbrook, New York in an Escrow Account, no.
0000000, less the sum of $105,000 which previously had been deposited in such
account and disbursed with the approval of a majority of the Series B Purchasers
for the purpose of paying certain obligations of Epigen principally to Vacold
LLC. The balance of the Series B Proceeds shall be used to pay obligations of
Epigen principally to Vacold LLC and for working capital. The balance of the
Series B Proceeds shall be released from escrow upon delivery by the parties
hereto of fully executed counterparts of this Amendment and delivery by Epigen
to the Series B Purchasers of copies of the resolutions of Epigen's Board of
Directors approving this Amendment and the transactions contemplated hereby.
3. REGISTRATION RIGHTS. Epigen hereby grants to each of the Biofund
Shareholders and the Series B Purchasers registration rights with respect to
their shares of Epigen Common Stock and the shares of Common Stock underlying
the shares of Series B Preferred Stock purchased hereunder. Such persons shall
have all of the rights and benefits, pari passu, with the beneficiary of any
registration rights agreement binding upon Epigen.
4. CONVERSION OF EPIGEN DEBT BY FRESNE.
(a) As of April 30, 2000, Epigen is indebted to Fresne in the aggregate
amount of $1,743,378.48. Effective immediately, Fresne hereby agrees to
contribute to the capital of Epigen an aggregate of $1,387,164.85 in obligations
owed by Epigen to him. Epigen shall issue to Fresne its promissory note in the
original principal amount of $356,213.63, with interest thereon at the rate of
nine percent (9%) per annum in the form attached hereto as Exhibit E (the
"Company Note"). Of the principal amount of such note, $156,213.63 shall be
repaid in three equal annual installments principal, plus accured interest
thereon, and $200,000 shall be payable on demand by Fresne shall continue to be
subject to the security agreement granted to Fresne pursuant to the Agreement
dated as of May 1, 1995 between Fresne and Epigen (the "1995 Agreement").
(b) In addition, as of the date hereof, Fresne is indebted to Epigen in
the amount of $156,213.63. Fresne hereby agrees to repay such amount out of the
proceeds received by him from Epigen pursuant to the Company Note, in pro rata
installments, if, as and when received by Fresne, pursuant to the terms of a
promisory note substantially in the form of Exhibit F hereto.
(c) Fresne hereby agrees that from and after April 30, 2000, any salary
owed to him by Epigen which is unpaid because Epigen lacks the funds to make
such payment shall accrue without interest accruing thereon, any provision to
the contrary in the 1995 Agreement to the contrary notwithstanding.
(d) Fresne further agrees that, notwithstanding any provision to the
contrary in the 1995 Agreement to the contrary, he may convert all or any
portion of $200,000 of principal
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amount of the Company Note only into shares of Epigen's Common Stock at the rate
of $.50 per share.
5. INVESTMENT ANALYSIS. Attached hereto as Exhibit G is an analysis of
the shareholdings of all persons holding of record at least 2% of the Common
Stock of Epigen, on a fully diluted basis, including a listing of the shares,
options, warrants and other rights to acquire shares of Common Stock of Epigen
and the amounts invested by such persons, or good faith estimates thereof.
6. WAIVER OF ANTI-DILUTION RIGHTS. Each of Fresne and Xxxxx holds
certain rights to receive additional shares of Epigen's Common Stock, in the
case of Fresne pursuant to that certain Amended and Restated Employment
Agreement with Epigen dated as of November 1, 1999, and, in the case of Xxxxx,
pursuant to that certain letter agreement dated as of May 4, 1998. Solely with
respect to the issuances of the Series B Preferred Stock contemplated hereby,
each of Fresne and Xxxxx hereby permanently waives his respective right to
receive additional shares of Epigen's Common Stock pursuant to such agreements.
Section 7. MISCELLANEOUS.
7.1 NOTICES. Except as herein provided, all notices which may be
required or permitted under this Agreement shall be given in writing by
certified mail, return receipt requested, or by hand, by facsimile or by Express
Mail or other recognized over night delivery service and shall be delivered or
transmitted to the parties hereto at their respective addresses set forth above,
or in the case of the Biofund Shareholders, their respective addresses as set
forth in the books and records of Epigen, or such other addresses as any of them
shall designate in accordance with the provisions of this Section 7.1
7.2 ENTIRE AGREEMENT. This Agreement constitutes the entire agreement
of the parties hereto regarding the subject matter hereof and supersedes any
prior agreement of the parties hereto regarding such subject matter.
7.3 GOVERNING LAW. This Agreement shall be governed by and interpreted
in accordance with the laws of the State of New York.
7.4 COUNTERPARTS. This Agreement may be signed in one or more
counterparts which together shall constitute one and the same instrument.
7.5 MODIFICATION. No modification or amendment of this Agreement shall
be effective unless in writing and signed by the parties hereto.
7.6 SEVERABILITY. Should any provision of this Agreement be determined
to be invalid or unenforceable or at variance with any present or future
requirement of applicable law then such provision alone shall become inoperative
to the extent necessary, and this Agreement may remain in full force and should
be construed so as to give effect to the intent and purpose of the parties to
the maximum extent possible.
-22-
7.7 ASSIGNMENT. Except as herein provided, no party may assign all or
any portion of this Agreement without the prior written consent of the other
parties.
7.8 HEADINGS. The headings contained in this Agreement are for the
convenience of reference only and shall not affect in any way the meaning or
interpretation of this Agreement.
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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to
executed by their duly authorized representatives as of the day and year first
above written.
BIOFUND, INC. EPIGEN, INC.
By:/s/Xxxxx Xxxxx By: /s/Xxxxxx X. Xxxxxx
---------------------- ---------------------
Xxxxx Xxxxx, President Xxxxxx X. Xxxxxx, CEO,
President and Chairman
/s/Xxxxxx X. Xxxxxx /s/ W. Xxxxx Xxxxx, Xx.
------------------------- -------------------------
Xxxxxx X. Xxxxxx, W. Xxxxx Xxxxx, Xx.
individually
/s/Xxxxx Xxxxx /s/ Xxxx X. Xxxx
------------------------- -------------------------
Xxxxx Xxxxx, Xxxx X. Xxxx
individually
/s/ Xxxxxx Xxxxx Xxxxx /s/ Xxxxxx X. Xxxxxxxx
------------------------- -------------------------
Xxxxxx Xxxxx Xxxxx Xxxxxx X. Xxxxxxxxx
/s/ Xxxxxxx X. Field /s/ Xxxxxx Xxxxxxxxx III
------------------------- ------------------------
Xxxxxxx X. Field Xxxxxx Xxxxxxxxx III
/s/ Xxxxxxxxx Xxxxx Xxxxx /s/ Xxxxxxx Xxxxxxx
------------------------- -------------------------
Xxxxxxxxx Xxxxx Xxxxx Xxxxxxx Xxxxxxx
-24-
EXHIBIT A
Capitalization Table as of December 31, 1999.
Epigen Inc.
Full Ownership Analysis
12/31/1999
----------------- Options ------------------
Shareholder Name Total Shares % Owned Options No. Detail Price Expire
---------------- ------------ ------- ------- ---------- ----- ------
Venture Capital Investor ............. 0 -- -- -- -- --
Biofund, Inc. (23% Sale) ............. 920 0 -- -- -- -- --
Xxxxx, Xxxxxx Xxxxx ............. 25 0 -- -- -- -- --
Xxxxx, Xxxxx .................... 200 0 -- -- -- -- --
Xxxxxxxxx, Xxxxxx X ............. 25 0 -- -- -- -- --
Field, Xxxxxxx X ................ 100 0 -- -- -- -- --
Xxxxxx, Xxxxxx X ................ 50 0 -- -- -- -- --
Goldfrank, III, Lionel .......... 150 0 -- -- -- -- --
Xxxxxx, Xxxxxxx ................. 120 0 -- -- -- -- --
Xxxxx, Xxxxxxxxx Xxxxx .......... 25 0 -- -- -- -- --
Xxxx, Xxxx X .................... 25 0 -- -- -- -- --
Xxxxx, Jr., X. Xxxxx ............ 200 0 -- -- -- -- --
Biofund Conversion ................... 920 0 -- -- -- -- --
Xxxxx, Xxxxxx Xxxxx ............. 25 0 -- -- -- -- --
Xxxxx, Xxxxx .................... 200 0 -- -- -- -- --
Xxxxxxxxx, Xxxxxx X ............. 25 0 -- -- -- -- --
Field, Xxxxxxx X ................ 100 0 -- -- -- -- --
Xxxxxx, Xxxxxx X ................ 50 0 -- -- -- -- --
Goldfrank, III, Lionel .......... 150 0 -- -- -- -- --
Xxxxxx, Xxxxxxx ................. 120 0 -- -- -- -- --
Xxxxx, Xxxxxxxxx Xxxxx .......... 25 0 -- -- -- -- --
Xxxx, Xxxx X .................... 25 0 -- -- -- -- --
Xxxxx, Jr., X. Xxxxx ............ 200 0 -- -- -- -- --
Mayday Financing ($1.00 per share) ... 0 -- -- -- -- --
Accrued Interest / Notes Payable ..... 0 -- -- -- -- --
Payables to be Converted ............. 0 -- -- -- -- --
AST Exchange Agent ................... 0 -- -- -- -- --
** Xxxxxxx, Xxxx ..................... 0 -- -- -- --
Biotag Inc ........................... 17,026 0.30% -- -- -- --
BMA .................................. 0 -- -- -- -- --
JMG Bonfrer .......................... 10,000 0.17% -- -- -- --
Boston Biomedical Research Institute . 41,988 0.73% -- -- -- --
Xxxxxxx, Xxxxx ....................... 1,137 0.02% -- -- -- --
Cede & Co ............................ 159,708 2.79% -- -- -- --
Xxxxxxxx, Xxxxxx ..................... 2,273 0.04% -- -- -- --
Xxxxxxx, Xxxxxx ...................... 50,000 0.87% -- -- -- --
Xxxxx, Xxxxx ....................... 50,000 0.87% -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
Xxxxx Tte./Indian Creek Ptnrs ........ 156,845 2.74% -- -- -- --
Xxxxxxxxx, Xxxx X .................... 18,826 0.33% -- -- -- --
**Xxxxxxxxx, Xxxxxx X ................ 114,940 2.01% -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
Creative Biomolecules Inc ............ 22,565 0.39% -- -- -- --
Xxxx, Xxxxxx ......................... 4,268 0.07% -- -- -- --
Deidrick, Aga B ...................... 8,000 0.14% -- -- -- --
** Xx. Xxxxxxxx ...................... 0 -- -- -- -- --
** Xx. Xxxxxx ........................ 0 -- -- -- -- --
# Epigen Inc ......................... 1,173 0.02% -- -- -- --
Experta Treyhand AG .................. 14,773 0.26% -- -- -- --
Fawwaz, Rashid ....................... 9,777 0.17% -- -- -- --
Xxxxx, Xxxxxxx ....................... 100,000 1.75% -- -- -- --
*Xxxxxx, Xxxxxx X .................... 2,262,722 39.52% -- -- -- --
Prefered Stock ................. 0 -- -- -- -- --
## Debt ........................ 0 -- -- -- -- --
Xxxx, Xxxxxxx ........................ 4,850 0.08% -- -- -- --
Xxxxxx, Xxxxxx ....................... 10,000 0.17% -- -- -- --
Xxxxxxxx, Xxxx ....................... 6,819 0.12% -- -- -- --
Goldfrank, L ......................... 100,000 1.75% -- -- -- --
Harley, Xxxxx X ...................... 98,069 1.71% -- -- -- --
Xxxxxxx, Xxxx ........................ 10,000 0.17% -- -- -- --
Xxxxxx, Xxxxxxx ...................... 12,500 0.22% -- -- -- --
Xxxxxx, Xxxxx ........................ 9,091 0.16% -- -- -- --
0 -- -- -- -- --
-- 0 -- -- -- -- --
Xxxxxx, Xxxxx X ...................... 467 0.01% 2,332 -- 2.00 12/03/2002
0 -- -- 1,931 2.00 03/25/2002
-- 0 -- -- 401 2.00 12/03/2002
Xxxxx, Xxxxxxxx J & Xxxxxxx X ........ 25,000 0.44% -- -- -- --
Xxxx, Xxxxxxx E**** .................. 177,589 3.10% 59,873 -- 0.82 09/01/2007
-- 0 -- -- 1,931 2.00 03/25/2002
-- 0 -- -- 401 2.00 12/02/2002
-- 0 -- -- 2,136 2.00 09/13/2001
-- 0 -- -- 1,681 2.00 06/01/2002
-- 0 -- -- 1,681 2.00 06/01/2003
-- 0 -- -- 1,681 2.00 06/01/2004
-- 0 -- -- 1,681 2.00 06/01/2005
-- 0 -- -- 47,000 0.50 09/01/2007
-- 0 -- -- 1,681 2.00 06/01/2006
-- 0 -- -- -- -- --
** Xxxxx, Xxxxxx X ................... 6,819 0.12% -- -- -- --
Xxxxx, I ............................. 0 -- -- -- -- --
Xxxxxx, Xxxxxx ....................... 10,000 0.17% -- -- -- --
Xxxxxxxxx Xxxxx & Associates Inc ..... 2,273 0.04% -- -- -- --
Xxxxx, Xxxxx ......................... 1,313 0.02% -- -- -- --
Liss, Irvine ......................... 50,000 0.87% -- -- -- --
Long, Xxx Xxxxxxx .................... 214,869 3.75% -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
Xxxxxx X Xxxxx & Company Inc ......... 2,534 0.04% -- -- -- --
Xxxxxxxxxx, Xxxxxxxx ................. 5,910 0.10% -- -- -- --
Xxxxxxxxx, Xxxxx X ................... 126,769 2.21% 2,273 2,273 2.00 02/01/2001
Xxxxxxxxxx, Xxxxxxx .................. 8,000 0.14% -- -- -- --
Xxxxx, Xxxxx X ....................... 25,000 0.44% -- -- -- --
Nikrui, Najosam ...................... 1,137 0.02% -- -- -- --
** Xxxxxx, Xxxx ...................... 6,819 0.12% -- -- -- --
Xxxxxxx, D ........................... 0 -- -- -- -- --
Perisher Publishing .................. 75,000 1.31% -- -- -- --
Philadep & Co. ....................... 0 -- -- -- -- --
Xxxxxx, Xxxxxx ....................... 21,685 0.38% -- -- -- --
Xxxxxxxxxx, Xxxxxxxx X ............... 30,125 0.53% -- -- -- --
Xxxxxxxxxx, Xxxxxx X ................. 30,125 0.53% -- -- -- --
Xxxxxxxxxx, Xxxxx X .................. 30,125 0.53% -- -- -- --
Xxxxxxxxxx, Xxxx X ................... 30,125 0.53% -- -- -- --
Xxxxxxxx, Xxxxxx c/oRabinowitz ....... 30,125 0.53% -- -- -- --
Xxxxxxxxxx, Xxxxx .................... 124,628 2.18% -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
Xxxxxxxx & O'Neil LLP ................ 6,876 0.12% -- -- -- --
Xxxxxxx, Xxxx ........................ 3,000 0.05% -- -- -- --
Xxxxxx Xxxxxx A ...................... 115,362 2.01% -- -- -- --
Xxxxxx Xxxxxx A & Xxxxxxx X ......... 27,273 0.48% -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
Xxxxxxxx, L Xxxxxxxx ................. 143,290 2.50% 2,106 -- 2.00 03/25/2002
-- 0 -- -- 1,705 2.00 03/25/2002
-- 0 -- -- 401 2.00 12/03/2000
Xxxxxxxx, Xxxxx ...................... 1,516 0.03% -- -- -- --
Xxxxx. Xxxxx X ....................... 6,423 0.11% -- -- -- --
Somkey SA ............................ 1,273 0.02% -- -- -- --
Xxxxxxx, Xxxxxxxx .................... 108 0.00% 2,106 -- 2.00 03/25/2002
-- 0 -- -- 1,705 2.00 03/25/2002
-- 0 -- -- 401 2.00 12/03/2000
Strategica Group Inc ................. 1,470 0.03% -- -- -- --
The Mayflower Group Ltd .............. 68,182 1.19% -- -- -- --
** 'Xxxxx Jr., X. Xxxxx (<9/1/98) .... 434,187 7.58% -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
Xxxxx Jr., X. Xxxxx (>9/1/98) ........ 50,000 0.87% -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
Xxxxx Jr., X. Xxxxx (>9/1/98) ........ 0 -- -- -- -- --
Xxxxx Jr., X. Xxxxx (XXX)c ........... 11,819 0.21% -- -- -- --
Vacold, LLC .......................... 433,705 7.58% -- -- -- --
Xxxx, Xxxxxx & Xxxxx ................. 10,000 0.17% -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
Westheimer, J. & A ................... 12,500 0.22% -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
Xxxxxxxxxx, Xxxxx .................... 12,500 0.22% -- -- -- --
-- 0 -- -- -- -- --
-- 0 -- -- -- -- --
Zahav Ltd ............................ 30,304 0.53% -- -- -- --
Shareholders with less than1000 Shares 21,802 0.38% 401 401 -- --
Variance: AST Exhange Variance ....... 1
--------- ------ ------ ------
*TOTAL ............................... 5,725,378 100.00% 69,091 69,091
========= ====== ====== ======
-------------------- Warrants ----------------------- **Grant
Shareholder Name Warrants No. Detail Price Expire Commitments
---------------- -------- ---------- ----- ------ -----------
Venture Capital Investor ............. -- -- -- -- --
Biofund, Inc. (23% Sale) ............. 920 3,936,680 -- 0.01 note payoff --
Xxxxx, Xxxxxx Xxxxx ............. 25 -- 106,975 0.01 note payoff --
Xxxxx, Xxxxx .................... 200 -- 855,800 0.01 note payoff --
Xxxxxxxxx, Xxxxxx X ............. 25 -- 106,975 0.01 note payoff --
Field, Xxxxxxx X ................ 100 -- 427,900 0.01 note payoff --
Xxxxxx, Xxxxxx X ................ 50 -- 213,950 0.01 note payoff --
Goldfrank, III, Lionel .......... 150 -- 641,850 0.01 note payoff --
Xxxxxx, Xxxxxxx ................. 120 -- 513,480 0.01 note payoff --
Xxxxx, Xxxxxxxxx Xxxxx .......... 25 -- 106,975 0.01 note payoff --
Xxxx, Xxxx X .................... 25 -- 106,975 0.01 note payoff --
Xxxxx, Jr., X. Xxxxx ............ 200 -- 855,800 0.01 note payoff --
Biofund Conversion ................... 920 0 -- 0.50 -- --
Xxxxx, Xxxxxx Xxxxx ............. 25 -- 0 0.50 -- --
Xxxxx, Xxxxx .................... 200 -- 0 0.50 -- --
Xxxxxxxxx, Xxxxxx X ............. 25 -- 0 0.50 -- --
Field, Xxxxxxx X ................ 100 -- 0 0.50 -- --
Xxxxxx, Xxxxxx X ................ 50 -- 0 0.50 -- --
Goldfrank, III, Lionel .......... 150 -- 0 0.50 -- --
Xxxxxx, Xxxxxxx ................. 120 -- 0 0.50 -- --
Xxxxx, Xxxxxxxxx Xxxxx .......... 25 -- 0 0.50 -- --
Xxxx, Xxxx X .................... 25 -- 0 0.50 -- --
Xxxxx, Jr., X. Xxxxx ............ 200 -- 0 0.50 -- --
Mayday Financing ($1.00 per share) ... -- -- -- -- --
Accrued Interest / Notes Payable ..... -- -- -- -- --
Payables to be Converted ............. -- -- -- -- --
AST Exchange Agent ................... -- -- -- -- --
** Xxxxxxx, Xxxx ..................... -- -- -- -- --
Biotag Inc ........................... -- -- -- -- --
BMA .................................. -- -- -- -- --
JMG Bonfrer .......................... -- -- -- -- --
Boston Biomedical Research Institute . -- -- -- -- --
Xxxxxxx, Xxxxx ....................... -- -- -- -- --
Cede & Co ............................ -- -- -- -- --
Xxxxxxxx, Xxxxxx ..................... -- -- -- -- --
Xxxxxxx, Xxxxxx ...................... 50,000 50,000 1.50 08/31/2001 --
Xxxxx, Xxxxx ....................... 118,182 -- 1.79 various --
-- -- 9,091 2.00 12/31/2001 --
-- -- 9,091 2.00 12/31/2001 --
-- -- 50,000 1.50 03/31/2004 --
-- -- 50,000 2.00 03/31/2004 --
Xxxxx Tte./Indian Creek Ptnrs ........ 4,546 4,546 2.00 09/01/2000 --
Xxxxxxxxx, Xxxx X .................... 9,091 9,091 2.00 02/28/2004 --
**Xxxxxxxxx, Xxxxxx X ................ 41,725 -- 2.30 various 48,527
-- -- 4,546 2.00 09/01/2000 --
-- -- 9,091 2.00 12/31/2001 --
-- -- 9,091 2.00 12/31/2001 --
-- -- 18,997 2.66 01/16/2003 --
Creative Biomolecules Inc ............ -- -- -- -- --
Xxxx, Xxxxxx ......................... -- -- -- -- --
Deidrick, Aga B ...................... -- -- -- -- --
** Xx. Xxxxxxxx ...................... -- -- -- -- 25,000
** Xx. Xxxxxx ........................ -- -- -- -- 25,000
# Epigen Inc ......................... -- -- -- -- (1,173)
Experta Treyhand AG .................. -- -- -- -- --
Fawwaz, Rashid ....................... 9,091 9,091 2.00 02/28/2004 --
Xxxxx, Xxxxxxx ....................... 100,000 100,000 3.00 06/30/2004 --
*Xxxxxx, Xxxxxx X .................... 25,702 -- 0.90 various --
Prefered Stock ................. -- 24,702 0.83 04/15/2003 --
## Debt ........................ -- 1,000 2.66 12/31/2002 --
Xxxx, Xxxxxxx ........................ -- -- -- -- --
Xxxxxx, Xxxxxx ....................... -- -- -- -- --
Xxxxxxxx, Xxxx ....................... -- -- -- -- --
Goldfrank, L ......................... 100,000 100,000 3.00 06/30/2004 --
Harley, Xxxxx X ...................... -- -- -- -- --
Xxxxxxx, Xxxx ........................ -- -- -- -- --
Xxxxxx, Xxxxxxx ...................... -- -- -- -- --
Xxxxxx, Xxxxx ........................ 4,546 -- 2.00 12/31/2001 --
-- 2,273 2.00 12/31/2001 --
-- -- 2,273 2.00 12/31/2001 --
Xxxxxx, Xxxxx X ...................... -- -- -- -- --
-- -- -- -- --
-- -- -- -- -- --
Xxxxx, Xxxxxxxx J & Xxxxxxx X ........ 4,546 4,546 2.00 09/01/2000 --
Xxxx, Xxxxxxx E**** .................. -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
** Xxxxx, Xxxxxx X ................... -- -- -- -- 160,000
Xxxxx, I ............................. 2,273 2,273 2.00 02/28/2004 --
Xxxxxx, Xxxxxx ....................... -- -- -- -- --
Xxxxxxxxx Xxxxx & Associates Inc ..... -- -- -- -- --
Xxxxx, Xxxxx ......................... -- -- -- -- --
Liss, Irvine ......................... 50,000 50,000 1.50 10/31/2001 --
Long, Xxx Xxxxxxx .................... 229,734 -- 2.11 various --
-- -- 18,182 2.00 11/21/2000 --
-- -- 9,091 2.00 02/09/2001 --
-- -- 9,091 2.00 02/09/2001 --
-- -- 9,091 2.00 06/30/2001 --
-- -- 9,091 2.00 06/30/2001 --
-- -- 75,188 2.66 01/21/2003 --
-- -- 50,000 1.50 03/31/2004 --
-- -- 50,000 2.00 03/31/2004 --
Xxxxxx X Xxxxx & Company Inc ......... -- -- -- -- --
Xxxxxxxxxx, Xxxxxxxx ................. 2,273 2,273 2.00 09/01/2000 --
Xxxxxxxxx, Xxxxx X ................... -- -- -- -- --
Xxxxxxxxxx, Xxxxxxx .................. -- -- -- -- --
Xxxxx, Xxxxx X ....................... -- -- -- -- --
Nikrui, Najosam ...................... 2,273 2,273 2.00 02/28/2004 --
** Xxxxxx, Xxxx ...................... 6,819 6,819 2.00 02/28/2004 100,000
Xxxxxxx, D ........................... 6,819 6,819 2.00 02/28/2004 --
Perisher Publishing .................. -- -- -- -- --
Philadep & Co. ....................... -- -- -- -- --
Xxxxxx, Xxxxxx ....................... -- -- -- -- --
Xxxxxxxxxx, Xxxxxxxx X ............... -- -- -- -- --
Xxxxxxxxxx, Xxxxxx X ................. -- -- -- -- --
Xxxxxxxxxx, Xxxxx X .................. -- -- -- -- --
Xxxxxxxxxx, Xxxx X ................... -- -- -- -- --
Xxxxxxxx, Xxxxxx c/oRabinowitz ....... -- -- -- -- --
Xxxxxxxxxx, Xxxxx .................... 128,423 -- 1.35 various --
-- -- 9,091 2.00 12/31/2001 --
-- -- 9,091 2.00 12/31/2001 --
-- -- 60,241 0.83 04/15/2003 --
-- -- 25,000 1.50 03/31/2004 --
-- -- 25,000 2.00 03/31/2004 --
Xxxxxxxx & O'Neil LLP ................ -- -- -- -- --
Xxxxxxx, Xxxx ........................ -- -- -- -- --
Xxxxxx Xxxxxx A ...................... -- -- -- -- --
Xxxxxx Xxxxxx A & Xxxxxxx X ......... 22,720 -- 2.00 various --
-- -- 9,091 2.00 09/01/2000 --
-- -- 3,637 2.00 03/21/2001 --
-- -- 2,723 2.00 10/23/2000 --
-- -- 2,723 2.00 10/23/2000 --
-- -- 2,273 2.00 06/30/2001 --
-- -- 2,273 2.00 06/30/2001 --
Xxxxxxxx, L Xxxxxxxx ................. -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
Xxxxxxxx, Xxxxx ...................... -- -- -- -- --
Xxxxx. Xxxxx X ....................... 11,364 11,364 2.00 -- --
Somkey SA ............................ -- -- -- -- --
Xxxxxxx, Xxxxxxxx .................... -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
Strategica Group Inc ................. -- -- -- -- --
The Mayflower Group Ltd .............. -- -- -- -- --
** 'Xxxxx Jr., X. Xxxxx (<9/1/98) .... 304,546 -- 1.01 various 960,992
-- -- 4,546 2.00 09/01/2000 --
-- -- 300,000 1.00 08/31/2003 --
Xxxxx Jr., X. Xxxxx (>9/1/98) ........ 100,000 -- 1.75 various --
-- -- 50,000 1.50 03/31/2004 --
-- -- 50,000 2.00 03/31/2004 --
Xxxxx Jr., X. Xxxxx (>9/1/98) ........ -- -- -- -- --
Xxxxx Jr., X. Xxxxx (XXX)c ........... -- -- -- -- --
Vacold, LLC .......................... -- -- -- -- --
Xxxx, Xxxxxx & Xxxxx ................. 20,000 -- 1.75 03/31/2004 --
-- -- 10,000 1.50 03/31/2004 --
-- -- 10,000 2.00 03/31/2004 --
Westheimer, J. & A ................... 25,000 -- 1.75 03/31/2004 --
-- -- 12,500 1.50 03/31/2004 --
-- -- 12,500 2.00 03/31/2004 --
Xxxxxxxxxx, Xxxxx .................... 25,000 -- 1.75 03/31/2004 --
-- -- 12,500 1.50 03/31/2004 --
-- -- 12,500 2.00 03/31/2004 --
Zahav Ltd ............................ -- -- -- -- --
Shareholders with less than1000 Shares -- -- -- -- --
Variance: AST Exhange Variance .......
--------- --------- ---------
*TOTAL ............................... 5,341,353 5,341,353 1,318,346
========= ========= =========
Convertible Con. Sec. Principal Conv.
Shareholder Name Securities Detail Amount Rate Yield
---------------- ----------- --------- --------- ---- -----
Venture Capital Investor ............. -- -- -- -- --
Biofund, Inc. (23% Sale) ............. 920 -- -- -- -- --
Xxxxx, Xxxxxx Xxxxx ............. 25 -- -- -- -- --
Xxxxx, Xxxxx .................... 200 -- -- -- -- --
Xxxxxxxxx, Xxxxxx X ............. 25 -- -- -- -- --
Field, Xxxxxxx X ................ 100 -- -- -- -- --
Xxxxxx, Xxxxxx X ................ 50 -- -- -- -- --
Goldfrank, III, Lionel .......... 150 -- -- -- -- --
Xxxxxx, Xxxxxxx ................. 120 -- -- -- -- --
Xxxxx, Xxxxxxxxx Xxxxx .......... 25 -- -- -- -- --
Xxxx, Xxxx X .................... 25 -- -- -- -- --
Xxxxx, Jr., X. Xxxxx ............ 200 -- -- -- -- --
Biofund Conversion ................... 920 -- -- -- -- --
Xxxxx, Xxxxxx Xxxxx ............. 25 -- -- -- -- --
Xxxxx, Xxxxx .................... 200 -- -- -- -- --
Xxxxxxxxx, Xxxxxx X ............. 25 -- -- -- -- --
Field, Xxxxxxx X ................ 100 -- -- -- -- --
Xxxxxx, Xxxxxx X ................ 50 -- -- -- -- --
Goldfrank, III, Lionel .......... 150 -- -- -- -- --
Xxxxxx, Xxxxxxx ................. 120 -- -- -- -- --
Xxxxx, Xxxxxxxxx Xxxxx .......... 25 -- -- -- -- --
Xxxx, Xxxx X .................... 25 -- -- -- -- --
Xxxxx, Jr., X. Xxxxx ............ 200 -- -- -- -- --
Mayday Financing ($1.00 per share) ... -- -- -- -- 0.0%
Accrued Interest / Notes Payable ..... 245,163 245,163 -- 1.00 --
Payables to be Converted ............. -- -- -- 0.00 --
AST Exchange Agent ................... -- -- -- -- --
** Xxxxxxx, Xxxx ..................... 11,429 11,429 20,000 1.75 0.0%
Biotag Inc ........................... -- -- -- -- --
BMA .................................. -- -- -- -- --
JMG Bonfrer .......................... -- -- -- -- --
Boston Biomedical Research Institute . -- -- -- -- --
Xxxxxxx, Xxxxx ....................... -- -- -- -- --
Cede & Co ............................ -- -- -- -- --
Xxxxxxxx, Xxxxxx ..................... -- -- -- -- --
Xxxxxxx, Xxxxxx ...................... -- -- -- -- --
Xxxxx, Xxxxx ....................... 100,000 100,000 100,000 1.00 14.0%
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
Xxxxx Tte./Indian Creek Ptnrs ........ -- -- -- -- --
Xxxxxxxxx, Xxxx X .................... -- -- -- -- --
**Xxxxxxxxx, Xxxxxx X ................ -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
Creative Biomolecules Inc ............ -- -- -- -- --
Xxxx, Xxxxxx ......................... -- -- -- -- --
Deidrick, Aga B ...................... -- -- -- -- --
** Xx. Xxxxxxxx ...................... -- -- -- -- --
** Xx. Xxxxxx ........................ -- -- -- -- --
# Epigen Inc ......................... -- -- -- -- --
Experta Treyhand AG .................. -- -- -- -- --
Fawwaz, Rashid ....................... -- -- -- -- --
Xxxxx, Xxxxxxx ....................... -- -- -- -- --
*Xxxxxx, Xxxxxx X .................... 3,683,680 -- -- -- --
Prefered Stock ................. -- 600,000 300,000 0.50 0.0%
## Debt ........................ -- 3,083,680 1,226,848 0.50 9.0%
Xxxx, Xxxxxxx ........................ -- -- -- -- --
Xxxxxx, Xxxxxx ....................... -- -- -- -- --
Xxxxxxxx, Xxxx ....................... -- -- -- -- --
Goldfrank, L ......................... -- -- -- -- --
Harley, Xxxxx X ...................... -- -- -- -- --
Xxxxxxx, Xxxx ........................ -- -- -- -- --
Xxxxxx, Xxxxxxx ...................... 25,000 25,000 25,000 1.00 25.0%
Xxxxxx, Xxxxx ........................ -- -- -- -- --
-- -- -- -- --
-- -- -- -- -- --
Xxxxxx, Xxxxx X ...................... -- -- -- -- --
-- -- -- -- --
-- -- -- -- -- --
Xxxxx, Xxxxxxxx J & Xxxxxxx X ........ -- -- -- -- --
Xxxx, Xxxxxxx E**** .................. 196,000 -- -- -- --
-- -- 25,000 25,000 1.00 25.0%
-- -- 171,000 85,500 0.50 --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
** Xxxxx, Xxxxxx X ................... -- -- -- -- --
Xxxxx, I ............................. -- -- -- -- --
Xxxxxx, Xxxxxx ....................... -- -- -- -- --
Xxxxxxxxx Xxxxx & Associates Inc ..... -- -- -- -- --
Xxxxx, Xxxxx ......................... -- -- -- -- --
Liss, Irvine ......................... -- -- -- -- --
Long, Xxx Xxxxxxx .................... 100,000 100,000 100,000 1.00 --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
Xxxxxx X Xxxxx & Company Inc ......... -- -- -- -- --
Xxxxxxxxxx, Xxxxxxxx ................. -- -- -- -- --
Xxxxxxxxx, Xxxxx X ................... -- -- -- -- --
Xxxxxxxxxx, Xxxxxxx .................. -- -- -- -- --
Xxxxx, Xxxxx X ....................... 50,000 50,000 50,000 1.00 25.0%
Nikrui, Najosam ...................... -- -- -- -- --
** Xxxxxx, Xxxx ...................... -- -- -- -- --
Xxxxxxx, D ........................... -- -- -- -- --
Perisher Publishing .................. -- -- -- -- --
Philadep & Co. ....................... -- -- -- -- --
Xxxxxx, Xxxxxx ....................... -- -- -- -- --
Xxxxxxxxxx, Xxxxxxxx X ............... -- -- -- -- --
Xxxxxxxxxx, Xxxxxx X ................. -- -- -- -- --
Xxxxxxxxxx, Xxxxx X .................. -- -- -- -- --
Xxxxxxxxxx, Xxxx X ................... -- -- -- -- --
Xxxxxxxx, Xxxxxx c/oRabinowitz ....... -- -- -- -- --
Xxxxxxxxxx, Xxxxx .................... 75,000 75,000 75,000 1.00 25.0%
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
Xxxxxxxx & O'Neil LLP ................ -- -- -- -- --
Xxxxxxx, Xxxx ........................ -- -- -- -- --
Xxxxxx Xxxxxx A ...................... 50,000 50,000 50,000 1.00 25.0%
Xxxxxx Xxxxxx A & Xxxxxxx X ......... -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
Xxxxxxxx, L Xxxxxxxx ................. -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
Xxxxxxxx, Xxxxx ...................... -- -- -- -- --
Xxxxx. Xxxxx X ....................... -- -- -- -- --
Somkey SA ............................ -- -- -- -- --
Xxxxxxx, Xxxxxxxx .................... -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
Strategica Group Inc ................. -- -- -- -- --
The Mayflower Group Ltd .............. -- -- -- -- --
** 'Xxxxx Jr., X. Xxxxx (<9/1/98) .... -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
Xxxxx Jr., X. Xxxxx (>9/1/98) ........ 100,000 100,000 50,000 0.50 --
-- -- -- -- -- --
-- -- -- -- -- --
Xxxxx Jr., X. Xxxxx (>9/1/98) ........ 25,000 25,000 25,000 1.00 25.0%
Xxxxx Jr., X. Xxxxx (XXX)c ........... -- -- -- -- --
Vacold, LLC .......................... -- -- -- -- --
Xxxx, Xxxxxx & Xxxxx ................. -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
Westheimer, J. & A ................... -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
Xxxxxxxxxx, Xxxxx .................... -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
Zahav Ltd ............................ -- -- -- -- --
Shareholders with less than1000 Shares -- -- -- -- --
Variance: AST Exhange Variance .......
--------- --------- ---------
*TOTAL ............................... 4,661,272 4,661,272 2,132,348
========= ========= =========
Interest ----- Fully Diluted -----
Shareholder Name 12/31/1999 Notes Shares % Owned
---------------- ---------- ----- ------ -------
Venture Capital Investor ............. -- -- 0 --
Biofund, Inc. (23% Sale) ............. 920 -- -- 3,936,680 23.00%
Xxxxx, Xxxxxx Xxxxx ............. 25 -- -- 0 --
Xxxxx, Xxxxx .................... 200 -- -- 0 --
Xxxxxxxxx, Xxxxxx X ............. 25 -- -- 0 --
Field, Xxxxxxx X ................ 100 -- -- 0 --
Xxxxxx, Xxxxxx X ................ 50 -- -- 0 --
Goldfrank, III, Lionel .......... 150 -- -- 0 --
Xxxxxx, Xxxxxxx ................. 120 -- -- 0 --
Xxxxx, Xxxxxxxxx Xxxxx .......... 25 -- -- 0 --
Xxxx, Xxxx X .................... 25 -- -- 0 --
Xxxxx, Jr., X. Xxxxx ............ 200 -- -- 0 --
Biofund Conversion ................... 920 -- -- 0 --
Xxxxx, Xxxxxx Xxxxx ............. 25 -- -- 0 --
Xxxxx, Xxxxx .................... 200 -- -- 0 --
Xxxxxxxxx, Xxxxxx X ............. 25 -- -- 0 --
Field, Xxxxxxx X ................ 100 -- -- 0 --
Xxxxxx, Xxxxxx X ................ 50 -- -- 0 --
Goldfrank, III, Lionel .......... 150 -- -- 0 --
Xxxxxx, Xxxxxxx ................. 120 -- -- 0 --
Xxxxx, Xxxxxxxxx Xxxxx .......... 25 -- -- 0 --
Xxxx, Xxxx X .................... 25 -- -- 0 --
Xxxxx, Jr., X. Xxxxx ............ 200 -- -- 0 --
Mayday Financing ($1.00 per share) ... -- Cl. B Pfd. 0 --
Accrued Interest / Notes Payable ..... 245,163 -- 245,163 1.43%
Payables to be Converted ............. -- -- 0 --
AST Exchange Agent ................... -- -- 0 --
** Xxxxxxx, Xxxx ..................... -- prof serv. 11,429 0.07%
Biotag Inc ........................... -- -- 17,026 0.10%
BMA .................................. -- -- 0 --
JMG Bonfrer .......................... -- -- 10,000 0.06%
Boston Biomedical Research Institute . -- -- 41,988 0.25%
Xxxxxxx, Xxxxx ....................... -- -- 1,137 0.01%
Cede & Co ............................ -- -- 159,708 0.93%
Xxxxxxxx, Xxxxxx ..................... -- -- 2,273 0.01%
Xxxxxxx, Xxxxxx ...................... -- -- 100,000 0.58%
Xxxxx, Xxxxx ....................... 0 mat. note 268,182 1.57%
-- -- -- 0 --
-- -- -- 0 --
-- -- -- 0 --
-- -- -- 0 --
Xxxxx Tte./Indian Creek Ptnrs ........ -- -- 161,391 0.94%
Xxxxxxxxx, Xxxx X .................... -- -- 27,917 0.16%
**Xxxxxxxxx, Xxxxxx X ................ -- -- 205,192 1.20%
-- -- -- 0 --
-- -- -- 0 --
-- -- -- 0 --
-- -- -- 0 --
Creative Biomolecules Inc ............ -- -- 22,565 0.13%
Xxxx, Xxxxxx ......................... -- -- 4,268 0.02%
Deidrick, Aga B ...................... -- -- 8,000 0.05%
** Xx. Xxxxxxxx ...................... -- -- 25,000 0.15%
** Xx. Xxxxxx ........................ -- -- 25,000 0.15%
# Epigen Inc ......................... -- -- 0 --
Experta Treyhand AG .................. -- -- 14,773 0.09%
Fawwaz, Rashid ....................... -- -- 18,868 0.11%
Xxxxx, Xxxxxxx ....................... -- -- 200,000 1.17%
*Xxxxxx, Xxxxxx X .................... -- -- 5,972,104 34.89%
Prefered Stock ................. -- Cl. A Pfd. 0 --
## Debt ........................ 314,992 -- 0 --
Xxxx, Xxxxxxx ........................ -- -- 4,850 0.03%
Xxxxxx, Xxxxxx ....................... -- -- 10,000 0.06%
Xxxxxxxx, Xxxx ....................... -- -- 6,819 0.04%
Goldfrank, L ......................... -- -- 200,000 1.17%
Harley, Xxxxx X ...................... -- -- 98,069 0.57%
Xxxxxxx, Xxxx ........................ -- -- 10,000 0.06%
Xxxxxx, Xxxxxxx ...................... 0 25% note 37,500 0.22%
Xxxxxx, Xxxxx ........................ -- -- 13,637 0.08%
-- -- 0 --
-- -- -- 0 --
Xxxxxx, Xxxxx X ...................... -- -- 2,799 0.02%
-- -- 0 --
-- -- -- 0 --
Xxxxx, Xxxxxxxx J & Xxxxxxx X ........ -- -- 29,546 0.17%
Xxxx, Xxxxxxx E**** .................. -- -- 433,462 2.53%
-- 0 25% note 0 --
-- -- -- 0 --
-- -- -- 0 --
-- -- -- 0 --
-- -- -- 0 --
-- -- -- 0 --
-- -- -- 0 --
-- -- -- 0 --
-- -- -- 0 --
-- -- -- 0 --
** Xxxxx, Xxxxxx X ................... -- -- 166,819 0.97%
Xxxxx, I ............................. -- -- 2,273 0.01%
Xxxxxx, Xxxxxx ....................... -- -- 10,000 0.06%
Xxxxxxxxx Xxxxx & Associates Inc ..... -- -- 2,273 0.01%
Xxxxx, Xxxxx ......................... -- -- 1,313 0.01%
Liss, Irvine ......................... -- -- 100,000 0.58%
Long, Xxx Xxxxxxx .................... -- mat. note 544,603 3.18%
-- -- -- 0 --
-- -- -- 0 --
-- -- -- 0 --
-- -- -- 0 --
-- -- -- 0 --
-- -- -- 0 --
-- -- -- 0 --
-- -- -- 0 --
Xxxxxx X Xxxxx & Company Inc ......... -- -- 2,534 0.01%
Xxxxxxxxxx, Xxxxxxxx ................. -- -- 8,183 0.05%
Xxxxxxxxx, Xxxxx X ................... -- -- 129,042 0.75%
Xxxxxxxxxx, Xxxxxxx .................. -- -- 8,000 0.05%
Xxxxx, Xxxxx X ....................... 0 25% note 75,000 0.44%
Nikrui, Najosam ...................... -- -- 3,410 0.02%
** Xxxxxx, Xxxx ...................... -- -- 113,638 0.66%
Xxxxxxx, D ........................... -- -- 6,819 0.04%
Perisher Publishing .................. -- -- 75,000 0.44%
Philadep & Co. ....................... -- -- 0 --
Xxxxxx, Xxxxxx ....................... -- -- 21,685 0.13%
Xxxxxxxxxx, Xxxxxxxx X ............... -- -- 30,125 0.18%
Xxxxxxxxxx, Xxxxxx X ................. -- -- 30,125 0.18%
Xxxxxxxxxx, Xxxxx X .................. -- -- 30,125 0.18%
Xxxxxxxxxx, Xxxx X ................... -- -- 30,125 0.18%
Xxxxxxxx, Xxxxxx c/oRabinowitz ....... -- -- 30,125 0.18%
Xxxxxxxxxx, Xxxxx .................... 0 25% note 328,051 1.92%
-- -- -- 0 --
-- -- -- 0 --
-- -- -- 0 --
-- -- -- 0 --
-- -- -- 0 --
Xxxxxxxx & O'Neil LLP ................ -- -- 6,876 0.04%
Xxxxxxx, Xxxx ........................ -- -- 3,000 0.02%
Xxxxxx Xxxxxx A ...................... 0 25% note 165,362 0.97%
Xxxxxx Xxxxxx A & Xxxxxxx X ......... -- -- 49,993 0.29%
-- -- -- 0 --
-- -- -- 0 --
-- -- -- 0 --
-- -- -- 0 --
-- -- -- 0 --
-- -- -- 0 --
Xxxxxxxx, L Xxxxxxxx ................. -- -- 145,396 0.85%
-- -- -- 0 --
-- -- -- 0 --
Xxxxxxxx, Xxxxx ...................... -- -- 1,516 0.01%
Xxxxx. Xxxxx X ....................... -- -- 17,787 0.10%
Somkey SA ............................ -- -- 1,273 0.01%
Xxxxxxx, Xxxxxxxx .................... -- -- 2,214 0.01%
-- -- -- 0 --
-- -- -- 0 --
Strategica Group Inc ................. -- -- 1,470 0.01%
The Mayflower Group Ltd .............. -- -- 68,182 0.40%
** 'Xxxxx Jr., X. Xxxxx (<9/1/98) .... -- -- 1,699,725 9.93%
-- -- -- 0 --
-- -- -- 0 --
Xxxxx Jr., X. Xxxxx (>9/1/98) ........ -- Cl. A Pfd. 250,000 1.46%
-- -- -- 0 --
-- -- -- 0 --
Xxxxx Jr., X. Xxxxx (>9/1/98) ........ 0 25% note 25,000 0.15%
Xxxxx Jr., X. Xxxxx (XXX)c ........... -- -- 11,819 0.07%
Vacold, LLC .......................... -- -- 433,705 2.53%
Xxxx, Xxxxxx & Xxxxx ................. -- -- 30,000 0.18%
-- -- -- 0 --
-- -- -- 0 --
Westheimer, J. & A ................... -- -- 37,500 0.22%
-- -- -- 0 --
-- -- -- 0 --
Xxxxxxxxxx, Xxxxx .................... -- -- 37,500 0.22%
-- -- -- 0 --
-- -- -- 0 --
Zahav Ltd ............................ -- -- 30,304 0.18%
Shareholders with less than1000 Shares -- -- 22,203 0.13%
Variance: AST Exhange Variance .......
---------- --------- ------
*TOTAL ............................... 560,155 17,115,439 100.00%
========= ========== ======
# The 12/31/99 Financials show that Epigen holds in treasury 5 shares, while the American Stock Transfer (AST) 12/31/99 shows 25,795
old shares registered to Epigen which would convert into 1,173 new shares in treasury.
Epigen's Board is taking action to retire all treasury shares and to confirm Epigen's common shares outstanding as of 12/31/99 being
equal to AST's records less the shares currently registered in Epigen's name which are being retired.
**Commitments to Issue Common Stock
Xxxxxxx, Xxxx X. $29,800 for 'Preparation of Business Plans
Xxxxxx X. Xxxxxxxxx Shares to be issued to reflect an appropriate conversion rate of $.83 vs $2.66 on previously converted
notes.
Xx. Xxxxxxxx Completion of lung cancer IRB for COD Test
Xx. Xxxxxx Consulting Services
Xxxxxx, Xxxx Consulting Services
Xxxxx, R. Execution of definitive liscense agreement with strategic partner
Xxxxxx, Xxxxxx Perpetual 33 1/3% anti-dilution protection
Xxxxx, W. Xxxxx Xx. 10% anti-dilution protection on 750,552 shares until definitive license agreement with strategic
partner
****By agreement Kent to receive $3000 per month in salary and 37000 option at $0.50 on June 1st of each year.
-25-
EXHIBIT B
Number of Shares Amount
Name of Shareholder of Common Stock Purchase Price Invested
------------------- --------------- -------------- --------
Xxxxxx Xxxxx Xxxxx ............... 106,975 $ 1,069.75 $ 25,000
Xxxxx Xxxxx ...................... 855,800 8,558.00 200,000
Xxxxxx X. Xxxxxxxxx .............. 106,975 1,069.75 25,000
Xxxxxxx X. Field ................. 427,900 4,279.00 100,000
Xxxxxx X. Xxxxxx ................. 213,950 2,139.50 50,000
Xxxxxx Xxxxxxxxx III ............. 641,850 6,418.50 150,000
Xxxxxxx Xxxxxxx .................. 513,480 5,134.80 120,000
Xxxxxxxxx Xxxxx Xxxxx ............ 106,975 1,069.75 25,000
Xxxx X. Xxxx ..................... 106,975 1,069.75 25,000
W. Xxxxx Xxxxx, Xx ............... 855,800 8,558.75 200,000
-26-
EXHIBIT C
Number of Shares Purchase
Name of Shareholder of Common Stock Price
------------------- ---------------- ---------
Xxxxxx Xxxxx Xxxxx ....................... 50,000 $ 25,000
Xxxxx Xxxxx .............................. 400,000 200,000
Xxxxxx X. Xxxxxxxxx ...................... 50,000 25,000
Xxxxxxx X. Field ......................... 200,000 100,000
Xxxxxx X. Xxxxxx ......................... 100,000 50,000
Xxxxxx Xxxxxxxxx III ..................... 300,000 150,000
Xxxxxxx Xxxxxxx .......................... 240,000 120,000
Xxxxxxxxx Xxxxx Xxxxx .................... 50,000 25,000
Xxxx X. Xxxx ............................. 50,000 25,000
W. Xxxxx Xxxxx, Xx ....................... 400,000 200,000
-27-
EXHIBIT D
CERTIFICATE OF AMENDMENT OF
DESIGNATION, PREFERENCES AND RIGHTS
OF
SERIES B PREFERRED STOCK
OF
EPIGEN, INC.
EPIGEN, INC., a corporation organized and existing under the laws of
the State of Delaware (the "Corporation), in accordance with the provisions of
Section 151 of the General Corporation Law of the State of Delaware, does hereby
CERTIFY:
1. The Certificate of Incorporation, as amended, of the Corporation
fixes the total number of shares of all classes of capital stock which the
Corporation shall have authority to issue as Sixty-Five Million (65,000,000)
shares, of which Fifty Million (50,000,000) shares shall be Common Stock, par
value $.001 per share (the "Common Stock"), and Fifteen Million (15,000,000)
shares shall be shares of Preferred Stock, par value $.001 per share (the
"Preferred Stock").
2. The Certificate of Incorporation, as amended, of the Corporation,
expressly grants to the Board of Directors of the Corporation authority to
provide for the issuance of said Preferred Stock in one or more series, with
such voting powers, and with such designations, preferences and relative,
participating, optional or other special rights, and qualifications, limitations
or restrictions thereof, as shall be stated and expressed in the resolution or
resolutions providing for the issue thereof adopted by the Board of Directors as
are not stated and expressed in its Certificate of Incorporation, as amended.
3. Pursuant to authority conferred upon the Board of Directors by the
Certificate of Incorporation, as amended, the Board of Directors, at a meeting
duly held on June 17, 1996, at which a quorum was duly present and acting
throughout, duly authorized and adopted the provisions establishing a Series B
Preferred Stock of the Corporation pursuant to a Certificate of Designation,
Preferences and Rights of Series B Preferred Stock filed with the Secretary of
State of Delaware on June 18, 1996. All of the outstanding shares of Series B
Preferred Stock were acquired by the Corporation pursuant to an exchange of
shares of its Common Stock for such outstanding shares of Series B Preferred
Stock on July 14, 1997 and restored to the status of authorized but unissued
shares of preferred stock, without designation. Pursuant to authority conferred
upon the Board of Directors by the Certificate of Incorporation, as amended, the
Board of Directors, at a meeting duly held on June 7, 2000, at which a quorum
was duly present and acting throughout, duly authorized and adopted the
provisions set forth in the following
-28-
resolution providing for an Amended Certificate of Designation, Preferences and
Rights of Series B Preferred Stock as follows:
RESOLVED, that an issue of a series of the Preferred Stock, par value
$.001 per share, of the Corporation consisting of Five Hundred Thousand
(500,000) shares is hereby provided for, and the voting power, designation,
preferences and relative, participating, optional or other special rights, and
the qualifications, limitations or restrictions thereof, are fixed hereby as
follows:
1. DESIGNATION. The designation of such series shall be
"Series B Preferred Stock" (hereinafter referred to as the "Series B
Preferred Stock") and the number of shares constituting such series is
Five Hundred Thousand (500,000). The number of authorized shares of
Series B Preferred stock may be increased or reduced by further
resolutions of the board of Directors of the Corporation or any duly
authorized committee thereof and by the filing of a certificate
pursuant to the provisions of the General Corporation Law of the State
of Delaware stating that such increase or reduction has been so
authorized, but the number of shares of Series B Preferred Stock shall
not be reduced below 500,000 unless there shall be less than 500,000
shares of Series B Preferred Stock outstanding, in which case the
number of shares of Series B Preferred Stock may be reduced to a number
of shares equal to the number of such shares outstanding from time to
time. Shares of Series B Preferred Stock shall be evidenced by
certificates registered in the name of the record holder of such shares
of Series B Preferred Stock.
2. DIVIDENDS. The Series B Preferred Stock shall be entitled
to share pari passu on a share for share basis with the Common Stock of
the Corporation if, in any dividends if, as and when declared by the
Corporation's Board of Directors.
3. MANDATORY REDEMPTION. The shares of Series B Preferred
Stock shall be redeemed by the Corporation not later than August 31,
2001 (the "Redemption Date") at a price per share of $1.00; provided,
however, that the Corporation shall have the right at any time prior to
the Redemption Date to repurchase all or any portion of the then
outstanding shares of Series B Preferred Stock, pro rata, from the
holders thereof providing it has funds legally available therefor. Any
such repurchase shall be upon thirty (30) days' prior written notice to
the holders of the shares of Series B Preferred Stock, which notice
shall set forth the number of shares of Series B Preferred Stock to be
repurchased from the holder receiving such notice, the date of such
repurchase (the "Repurchase Date"), and instructions for tendering
certificates representing the shares of Series B Preferred Stock to be
repurchased. From and after any Repurchase Date, the holders of shares
of Series B Preferred shall have no rights as shareholders with respect
to the shares of Series B Preferred Stock so purchased, but shall stand
as creditors of the Corporation for the amount of the repurchase price
therefor.
4. SHARES TO BE RETIRED. All shares of Series B Preferred
Stock redeemed or purchased by the Corporation shall be retired and
canceled and shall be restored to the status of authorized but unissued
shares of Preferred Stock, without designation as to series, and may
thereafter be issued, but not as shares of Series B Preferred Stock.
-29-
5. CONVERSION OR EXCHANGE.
(a) CONVERSION RIGHT. Except as set forth in subsection 5(c)
hereof, at any time prior to the Mandatory Redemption Date set forth in
Section 3 hereof, the holders of Series B Preferred Stock shall have
the right at any time to convert all, but not less than all, of such
shares of Series B Preferred Stock into shares of the Corporation's
Common Stock or such other securities into which such Common Stock
shall have been converted, or by which the Corporation's Common Stock
shall have been replaced, at the rate of one share of Common Stock of
the Corporation for each share of Series B Preferred Stock.
(b) MANDATORY CONVERSION. In the event the Corporation shall
engage in an "equity financing" for Common Stock and/or other
securities of the Corporation then each outstanding share of Series B
Preferred Stock must be converted by the holders of Series B Preferred
Stock into Common Stock and/or other securities of the Corporation at
one of the following rates: (i) the amount of shares of Common Stock or
other securities of the Corporation set forth in Section 5(a) hereof or
(ii) that number of shares of Common Stock and/or other securities of
the Corporation to be offered in such equity financing determined by
(A) dividing the aggregate purchase price paid by such holder for his
or her shares of Series B Preferred Stock by the aggregate purchase
price paid by the purchasers of the Corporation's securities in such
equity financing and (B) multiplying the resulting quotient by the
number of shares of Common Stock and/or other securities of the
Corporation to be issued in such equity financing. For purposes of this
provision, the term "equity financing" shall mean the sale the sale, in
one or more transactions or offerings by the Corporation of its shares
of Common Stock and/or other securities resulting in aggregate gross
proceeds to the Corporation of not less than $2,000,000. In the event
the equity financing shall involve transactions with different terms,
any election by a holder of Series B Preferred Stock to convert his or
her shares Series B Preferred Stock pursuant to subsection (ii) of this
Section 5(b) shall be pro rata among the various transactions
constituting the equity financing.
(c) NOTICE OF CONVERSION. Any holder of outstanding shares of
Series B Preferred Stock may elect to convert such shares of Series B
Preferred Stock into shares of Common Stock by serving written notice
on the Corporation setting forth (1) the number of shares of such
holder's Series B Preferred Stock to be converted; (2) the date by
which such conversion must occur, such date being at least twenty (20)
and not more than sixty (60) days after the date of such notice;
provided, however, that in the event the Company exercises its right to
redeem the Series B Preferred Stock prior to the Mandatory Redemption
Date set forth in Section 3 hereof, the holders of Series B Preferred
Stock shall have the right to elect to convert pursuant to Section 5(a)
hereof at any time prior to such early redemption date by written
notice to that effect received by the Corporation prior to the date set
forth in the Corporation's notice of early redemption; (3) whether such
shares of Common Stock or other securities are to be evidenced by a
single certificate or multiple certificates (in which latter case the
denominations of such certificates shall also be set forth); and (4) if
such certificates are to be issued in the name
-30-
or names of a person or persons other than that of the holder of the
Series B Preferred Stock so converting, the name(s) and address(es) of
such other person(s). Any securities issued pursuant to this subsection
(b)(ii) shall be in addition to any securities actually issued in such
equity financing.
(d) ISSUANCE OF CERTIFICATES. Promptly following the effective
date of any conversion in accordance with this Section 5, the
Corporation shall issue a certificate or certificates evidencing shares
of Common Stock and/or other securities of the Corporation into which
such shares of Series B Preferred Stock have been converted in
accordance with this Section 5.
6. CERTAIN ADJUSTMENTS.
(a) STOCK DIVIDENDS, SPLITS AND COMBINATIONS. If at any time
or from time to time, the holders of Common Stock become entitled to
receive additional shares or less shares because of a stock dividend,
stock split or combination of shares, the number of outstanding shares
of Series B Preferred Stock shall be proportionately and
correspondingly adjusted.
(b) RECLASSIFICATIONS. If at any time or from time to time,
the holders of Common Stock become entitled to receive a different
class of stock (the "Entitlement Event"), any holder of outstanding
shares of Series B Preferred Stock shall be entitled to receive the
same number and kind of shares of stock as a holder of shares of the
Common Stock immediately prior to the Entitlement Event was eligible to
receive with respect to such Common Stock pursuant to the Entitlement
Event. This provision shall include any reclassification in connection
with a merger of another corporation into the Corporation.
(c) MERGER INTO OR SALE OF ASSETS TO ANOTHER CORPORATION. If
at any time or from time to time, the holders of the Common Stock
become entitled to receive stock, securities, property or cash (or any
combination of them) by reason of a capital reorganization or
dissolution, liquidation or winding-up of the Corporation, a merger
with, a consolidation of the Corporation into, a sale of all or
substantially all of the assets of the Corporation to, another
corporation (the "Reorganization Event"), each holder of shares of
Series B Preferred Stock shall be entitled to receive the same stock,
securities, property or cash (or combination of them) as a holder of
the same number of shares of the Common Stock was eligible to receive
with respect to such Common Stock pursuant to the Reorganization Event.
7. VOTING RIGHTS. The holders of shares of Series B Preferred
Stock shall be entitled, at all meetings of the Stockholders of the
Corporation and on all occasions where stockholders are entitled to
vote or give their consent, to one (1) vote for each share of Series B
Preferred Stock owned by them. The holders of shares of Series B
Preferred Stock shall vote with the holders of shares of Common Stock
as a single class on all matters, except to the extent that holders of
Common Stock or holders of Series B Preferred Stock shall be entitled
to vote as a
-31-
separate class only on matters which effect the rights, preferences and
privileges of the Series B Preferred Stock.
8. LIQUIDATION PREFERENCE. In the event of any voluntary or
involuntary liquidation, dissolution or winding up of the Corporation,
the holders of the Series B Preferred Stock shall entitled to a
liquidation preference of $1.00 per share, payable out of the assets of
the Corporation therefor prior to any payment to the holders of the
Corporation's Series A Preferred Stock of Common Stock. In the event
the assets of the Corporation are not sufficient to pay such amount in
full, the assets legally available therefor shall be paid to the
holders of Series B Preferred Stock, pro rata. The consolidation or
merger of the Corporation with or into any other corporation, or the
sale of substantially all of the assets of the Corporation in
consideration for the issuance of equity securities of another
corporation, shall not be regarded as a liquidation, dissolution or
winding up of the Corporation within the meaning of this Section 7, but
only if such consolidation, merger or sale of assets shall not in any
way impair the voting power, preferences or special rights of the
Series B Preferred Stock.
9. LIMITATIONS ON DIVIDENDS ON XXXXXX RANKING STOCK. So long
as any Series B Preferred Stock shall be outstanding, the Corporation
shall not declare any dividends on the Common Stock or any other stock
of the Corporation ranking as to dividends or distributions of assets
junior to the Series B Preferred Stock (any such junior ranking stock
being herein referred to as "Junior Stock"), or make any payment on
account of, or set apart money for, a sinking or other analogous fund
for the purchase, redemption or other retirement of any shares of
Junior Stock, or make any distribution in respect thereof, whether in
cash or property or in obligations or stock of the Corporation, other
than Junior Stock (such dividends, payments, setting apart and
distributions being herein called "Junior Stock Payments"), unless the
Corporation shall not be in default or in arrears with respect to any
sinking or other analogous fund or any call for tenders obligation or
other agreement for the purchase, redemption or other retirement of any
shares of Preferred Stock other than Junior Stock. For purposes of this
Section 9, the Corporation's Series A Preferred Stock shall be deemed
Junior Stock.
10. RESTRICTIONS ON TRANSFER.
(a) RESTRICTIONS ON TRANSFER. Neither the Series B Preferred
Stock, nor any interest therein, shall be transferable except upon the
conditions specified in this Section 10, which conditions are intended
to ensure compliance with the Securities Act of 1933, as amended (the
"Securities Act") and all applicable state securities laws in respect
of the transfer of any such securities or any interest therein.
(b) RESTRICTIVE LEGEND. Each certificate, if shares of Series
B Preferred Stock shall issued in certificated form, shall (unless
otherwise permitted by the provisions of this Section 10) include a
legend in a form similar to the following:
-32-
NEITHER THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE
SECURITIES INTO WHICH THEY ARE CONVERTIBLE HAVE BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED, AND NEITHER SUCH SECURITIES NO
ANY INTEREST THEREIN MAY BE SOLD, TRANSFERRED, PLEDGED OR OTHERWISE
DISPOSED OF IN THE ABSENCE OF REGISTRATION OR AN EXEMPTION THEREFROM
UNDER SUCH ACT, APPLICABLE STATE SECURITIES LAWS AND THE RULES AND
REGULATIONS THEREUNDER.
(c) NOTICE OF PROPOSED TRANSFER. Each holder of shares of
Series B Preferred Stock, by his acceptance of such shares, agrees to
comply in all respects with the provisions of this Section 10. Prior to
any proposed transfer of any shares of Series B Preferred Stock, except
in the case of registration thereof pursuant to the Securities Act of
1933, as amended, the holder thereof shall give written notice to the
Corporation of such holder's intention of effect such transfer. Each
such notice shall describe the manner and circumstances of such
transfer in reasonable detail, and shall be accompanied by (i) a
written opinion of counsel reasonable satisfactory to the Corporation,
addressed to the Corporation, to the effect that the proposed transfer
may be effected without registration of the Series B Preferred Stock,
or (ii) written assurance from the Securities Exchange Commission
("SEC") that the SEC will not recommend any action be taken by it in
the event such transfer is effected without registration under such
Act. Such proposed transfer may be effected only if the Corporation
shall have received such notice and such opinion of counsel or written
assurance, whereupon the holder of such shares of Series B Preferred
Stock shall be entitled to transfer such shares of Series B Preferred
Stock in accordance with the terms of such notice. Each certificate
evidencing shares of Series B Preferred Stock so transferred shall bear
the legend set forth in Section 10(b) hereof, and each uncertificated
share of Series B Preferred Stock so transferred shall have entered
against it in the Corporation's stock transfer ledger or other similar
records a "stop transfer" legend, except that either such legend may be
removed if the opinion of counsel or written assurance is to the
further effect that no such legend nor the restrictions on transfer in
this Section 10 are required in order to ensure compliance with such
Act.
11. PREEMPTIVE RIGHTS. The holders of shares of Series B
Preferred Stock shall not be entitled to any preemptive or preferential
rights for the subscription to any shares of any capital stock of the
Corporation.
IN WITNESS WHEREOF, the Corporation has caused this Certificate to be
signed by Xxxxxx X. Xxxxxx, its President, who affirms, under penalties of
perjury, that this Certificate is the act and deed of the Corporation and that
the facts stated herein are true, as of the 7th th day of June, 2000.
EPIGEN, INC.
By: /s/ Xxxxxx X. Xxxxxx
--------------------
Name: Xxxxxx X. Xxxxxx
Title: President
-33-
EXHIBIT E
PROMISSORY NOTE
U.S.$356,213.63 Date: June 7, 2000
FOR VALUE RECEIVED, Epigen, Inc., a Delaware corporation ("Borrower"),
hereby promises to pay to Xxxxxx X. Xxxxxx, with an address at Tower Lodge,
Xxxxx Xxxxx Xxxx Xxxx, Xxx X, Xxxxxxxxx, XX 00000 ("Holder"), or at such other
location as Holder shall specify in a written notice to Borrower, in lawful
money of the United States of America, in immediately available funds, the
principal sum of U.S. Three Hundred Fifty-Six Thousand Two Hundred Thirteen and
63/100 Dollars (U.S. $356,213.63), together with interest on the principal
amount from time to time outstanding at the annual rate of nine percent (9%) per
annum. Of the original principal amount of this Note, the sum of $156,213.63
shall be paid by Borrower to Holder in three equal annual installments beginning
on June 1, 2001, together with interest accrued on the principal amount
outstanding from time to time. Of the original principal amount of this Note,
the sum of $200,000 shall be payable by Borrower on demand by Holder, together
with any accrued but unpaid interest hereunder.
The principal balance of this Note may be prepaid by Borrower at any
time, without premium or penalty.
The sum of $200,000 principal amount of this note is secured by the
grant of a security interest to Holder by Borrower pursuant to that certain
Preferred Stock and Warrant Purchase and Security Agreement dated as of May 1,
1995 between Borrower and Holder.
Presentation, demand, protest and notice of dishonor are hereby waived
by the undersigned. No delay or omission by Holder in exercising its rights
under this Note shall operate as a waiver of such rights, nor shall the exercise
of any right with respect to this Note waive or preclude the later exercise of
such right or any other right.
Borrower promises to pay all costs and out-of-pocket expenses of Holder
in obtaining performance under this Note, including fees and expenses of counsel
for Holder. Borrower agrees to pay principal, interest and all other amounts due
under this Note without setoff, counterclaim or any deduction whatsoever.
Delivery of any notice required or permitted to be sent pursuant to
this Note shall be deemed to have occurred when actually received by the
intended recipient. Any notice sent hereunder shall be sent by certified mail,
return receipt requested, Express Mail or by a nationally recognized overnight
courier service. For purposes of this Note, the term "Business Day" means any
day other than a day on which banks located in the State of New York are
required or permitted to close.
-34-
This Note shall be governed by and construed in accordance with the
laws of the State of New York.
EPIGEN, INC.
By:/s/ Xxxxxx X. Xxxxxx
-------------------
Name: Xxxxxx X. Xxxxxx
Title: Chairman, President and
Chief Executive Officer
-35-
EXHIBIT F
PROMISSORY NOTE
U.S.$ $156,213.63 Date: June 7, 2000
FOR VALUE RECEIVED, Xxxxxx X. Xxxxxx, with an address at Tower Lodge,
Xxxxx Xxxxx Xxxx Xxxx, Xxx X, Xxxxxxxxx, XX 00000 ("Borrower"), hereby promises
to pay to Epigen, Inc., a Delaware corporation with an address at Tower Lodge,
Xxxxx Xxxxx Xxxx Xxxx, Xxx X, Xxxxxxxxx, XX 00000 ("Holder"), or at such other
location as Holder shall specify in a written notice to Borrower, in lawful
money of the United States of America, in immediately available funds, the
principal sum of U.S. One Hundred Fifty-Six Thousand Two Hundred Thirteen and
63/100 Dollars (U.S.$156,213.63), together with interest on the principal amount
from time to time outstanding at the annual rate of nine percent (9%) per annum.
Such principal and accrued interest shall be repaid in installments equal in
amount to the installment payments of principal and interest to be received by
Borrower from Holder pursuant to that certain Primissory note in the original
principal amount of $356,213.63, dated June 7, 2000, if, as and when such
installments are received by Borrower.
The principal balance of this Note may be prepaid by Borrower at any
time, without premium or penalty.
Presentation, demand, protest and notice of dishonor are hereby waived
by the undersigned. No delay or omission by Holder in exercising its rights
under this Note shall operate as a waiver of such rights, nor shall the exercise
of any right with respect to this Note waive or preclude the later exercise of
such right or any other right.
Borrower promises to pay all costs and out-of-pocket expenses of Holder
in obtaining performance under this Note, including fees and expenses of counsel
for Holder. Borrower agrees to pay principal, interest and all other amounts due
under this Note without setoff, counterclaim or any deduction whatsoever.
Delivery of any notice required or permitted to be sent pursuant to
this Note shall be deemed to have occurred when actually received by the
intended recipient. Any notice sent hereunder shall be sent by certified mail,
return receipt requested, Express Mail or by a nationally recognized overnight
courier service. For purposes of this Note, the term "Business Day" means any
day other than a day on which banks located in the State of New York are
required or permitted to close.
-36-
This Note shall be governed by and construed in accordance with the
laws of the State of New York.
/s/ Xxxxxx X. Xxxxxx
--------------------
Xxxxxx X. Xxxxxx
-37-
EXHIBIT G
Holders of 2% or more of Epigen Common Stock.
Xxxxx, Xxxxx
Indian Creek Partners, LP
Summary of Investments & Holdings in Epigen, Inc. & Biofund, Inc.
Investment Date ................................ 07/07/97 12/23/97 07/29/98 n/a 02/23/99 11/12/99 Totals
-------- -------- -------- -------- -------- -------- --------
Amount ......................................... $100,000 -- $100,000 -- $ 50,000 -- $250,000
Loan Amount .................................... -- $100,000 -- -- -- -- $100,000
Terms of Promissory Note ....................... -- Prime+5% -- -- -- -- --
Maturity Date .................................. -- 12/23/98 -- -- -- -- --
Shares Purchases ............................... 36,363 -- 120,482 -- 50,000 -- 206,845
Price Per Share ................................ $ 2.75 -- $ 0.83 -- $ 1.00 -- --
Available Conversion ........................... -- 37,594 -- -- -- -- --
Class C Warrants ............................... 9,091 -- -- -- -- -- 9,091
Price Per Share ................................ $ 2.00 -- -- -- -- -- --
Expiration Date ................................ 12/31/01 -- -- -- -- -- --
Class D Warrants ............................... 9,091 -- -- -- -- -- 9,091
Price Per Share ................................ $ 2.00 -- -- -- -- -- --
Expiration Date ................................ 12/31/01 -- -- -- -- -- --
Escrow Agreement Date .......................... -- -- -- 12/23/97 -- -- --
Escrow Agreement w/X. Xxxxxx ................... -- -- -- 160,000 -- -- 160,000
Escrow Agent Certificate Number ................ -- -- -- CS3066 -- -- --
Price Per Share ................................ -- -- -- $ 2.66 -- -- --
Expiration Date ................................ -- -- -- 12/28/02 -- -- --
Series F Warrants .............................. -- -- -- -- 50,000 -- 50,000
Price Per Share ................................ -- -- -- -- $ 1.50 -- --
Expiration Date ................................ -- -- -- -- 03/31/04 -- --
Series G Warrants .............................. -- -- -- -- 50,000 -- 50,000
Price Per Share ................................ -- -- -- -- $ 2.00 -- --
Expiration Date ................................ -- -- -- -- 03/31/04 -- --
Biofund, Inc. CD Collateral Loan ............... -- -- -- -- -- $200,000 $200,000
Biofund, Inc. Shares Owned ..................... -- -- -- -- -- 200 200
Summary
-------
Epigen, Inc.
Total Investment $350,000
Common Shares Purchased 206,845
Exercisable Warrants & Options 278,182
Biofund, Inc.
Total Investment $200,000
Shares Owned 200
Xxxxxxxxx, Xxxxxx
Summary of Investments & Holdings in Epigen, Inc. & Biofund, Inc.
Investment Date ................. 08/11/95 12/18/96 10/10/97 01/16/98 07/02/98
-------- -------- -------- -------- --------
Amount ......................... $ 25,000 $100,000 Equity Kicker Equity Kicker $ 25,000
Common Shares Issued ............ 4,545 36,364 12,500 9,399 30,121
Price Per Share ................. $ 5.50 $ 2.75 -- -- $ 0.83
Warrant ......................... 4,545 -- -- -- --
Strike Price .................... $ 2.00 -- -- -- --
Expiration Date ................. 09/01/00 -- -- -- --
Warrant ......................... -- -- -- 18,997 --
Strike Price .................... -- -- -- $ 2.66 --
Expiration Date ................. -- -- -- 01/16/03 --
Class C Warrants ................ -- 9,091 -- -- --
Strike Price .................... -- $ 2.00 -- -- --
Expiration Date ................. -- 12/31/01 -- -- --
Class D Warrants ................ -- 9,091 -- -- --
Strike Price .................... -- $ 2.00 -- -- --
Expiration Date ................. -- 12/31/01 -- -- --
Biofund, Inc. CD Collateral Loan -- -- -- -- --
Biofund, Inc. Shares Owned ...... -- -- -- -- --
Investment Date ................. 09/17/98 11/18/99 03/13/00 Totals
-------- -------- -------- ------
Amount ......................... Debt to Equity -- Debt to Equity $150,000
Common Shares Issued ............ 22,010 -- 48,527 163,466
Price Per Share ................. $ 0.83 -- $ 0.83 --
Warrant ......................... -- -- -- --
Strike Price .................... -- -- Conversion --
Expiration Date ................. -- -- Rate of --
Warrant ......................... -- -- 09/17/1999 55,417
Strike Price .................... -- -- Changed --
Expiration Date ................. -- -- From $2.66 --
Class C Warrants ................ -- -- to $.83. 9,091
Strike Price .................... -- -- (See Board --
Expiration Date ................. -- -- Minutes of --
Class D Warrants ................ -- -- 1/21/00.) 9,091
Strike Price .................... -- -- -- --
Expiration Date ................. -- -- -- --
Biofund, Inc. CD Collateral Loan -- $ 25,000 -- $ 25,000
Biofund, Inc. Shares Owned ...... -- 25 -- 25
Field, Xxxxxxx X.
Summary of Investments & Holdings in Epigen, Inc. & Biofund, Inc.
Investment Date ......................... 07/27/99 11/18/99 Totals
-------- -------- --------
Amount ................................. $100,000 -- $100,000
Common Shares Purchased ................ 100,000 -- 100,000
Price Per Share ........................ $ 1.00 -- --
Series H Warrant ....................... 100,000 -- 100,000
Strike Price Per Share ................. $ 3.00 -- --
Expiration Date ......................... 06/30/04 -- --
Biofund, Inc. CD Collateral Loan ....... -- $100,000 $100,000
Biofund, Inc. Shares Owned .............. -- 100 100
Xxxxxx, Xxxxxx X.
Summary of Investments & Holdings in Epigen, Inc. & Biotag, Inc.
Date ............................. At 12/31/99 At 12/31/00 Totals
----------- ----------- ----------
Considertion (approximate) ....... $4,000,000 -- $4,000,000
Common Shares Issued ............. 2,260,325 -- 2,260,325
Assuming Series A Conversion ..... 600,000 -- 600,000
Warrants ......................... 24,702 1,000 25,702
Strike Price ..................... $ 0.83 $ 2.66 --
Expiration Date .................. 04/15/03 12/31/02 --
Biotag, Inc. Shares .............. 17,026 -- 17,026
Goldfrank, III, Lionel
Summary of Investments & Holdings in Epigen, Inc. & Biofund, Inc.
Investment Date ......................... 06/24/99 11/30/99 Totals
-------- -------- --------
Amount ................................. $100,000 -- $100,000
Common Shares Purchased ................ 100,000 -- 100,000
Price Per Share ........................ $ 1.00 -- --
Series H Warrant ....................... 100,000 -- 100,000
Price Per Share ........................ $ 3.00 -- --
Expiration Date ......................... 06/30/04 -- --
Biofund, Inc. CD Collateral Loan ........ -- 150,000 $150,000
Biofund, Inc. Shares Owned .............. -- 150 150
Xxxx, Xxxxxxx X.
Summary of Investments & Holdings in Epigen, Inc.
Date ................. 07/14/97 09/25/97 At 12/31/99 At 12/31/99 At 12/31/99 At 12/31/99
-------- -------- ----------- ----------- ----------- -----------
Debt Conversion Amount $45,307 -- -- -- -- --
Conversion Rate ...... $ 0.095 -- (Bonus/Svcs) -- -- --
Shares Issued ........ 21,678 12,500 143,411 -- -- --
Amount ............... -- $25,000 -- -- -- --
Promissory Note Issued -- 25% -- -- -- --
Maturity Date ........ -- 10/06/98 -- -- -- --
Options .............. -- -- -- 2,136 1,931 1,681
Strike Price ......... -- -- -- $ 2.00 $ 2.00 $ 2.00
Expiration Date ...... -- -- -- 09/13/01 03/25/02 06/01/02
Date ................. At 12/31/99 At 12/31/99 At 12/31/99 At 12/31/99 At 12/31/99 At 12/31/99 Totals
----------- ----------- ----------- ----------- ----------- ----------- --------
Debt Conversion Amount -- -- -- -- -- -- $ 45,307
Conversion Rate ...... -- -- -- -- -- -- --
Shares Issued ........ -- -- -- -- -- -- 177,589
Amount ............... -- -- -- -- -- -- $ 25,000
Promissory Note Issued -- -- -- -- -- -- --
Maturity Date ........ -- -- -- -- -- -- --
Options .............. 401 1,681 1,681 1,681 1,681 47,000 59,873
Strike Price ......... $ 2.00 $ 2.00 $ 2.00 $ 2.00 $ 2.00 $ 0.50 --
Expiration Date ...... 12/02/02 06/01/03 06/01/04 06/01/05 06/01/06 11/01/06 --
Long, Xxx Xxxxxxx
Summary of Holdings
Investments
-----------
11/10/95 $ 100,000
01/01/96 200,000
05/24/96 50,000
08/20/96 50,000
02/01/97 100,000
01/21/98 100,000
02/26/99 50,000
---------------
Total Investment $ 650,000
Shares of Common Stock 177,273
Warrants Exp Date
-------- --------
$2.00 strike price 18,182 11/30/00
$2.00 strike price 36,364 01/31/01
$2.66 strike price 75,188 01/21/03
Class C, $2.00 strike price 18,182 06/30/01
Class D, $2.00 strike price 18,182 06/30/01
Series F, $1.50 strike price 50,000 03/31/04
Series G, $2.00 strike price 50,000 03/31/04
---------------
Total Warrants 266,098
Promissory Note
---------------
Rate: Prime + 5% $ 100,000
(Included in the $650,000
investment.)
Xxxxxxx, Xxxxxxx
Summary of Investments & Holdings in Biofund, Inc.
Investment Date ................................ 04/13/00 Totals
-------- --------
Biofund, Inc. CD Collateral Loan ............... $120,000 $120,000
Biofund, Inc. Shares Owned ..................... 120 120
Xxxxx, Jr., X. Xxxxx
Summary of Investments & Holdings in Epigen, Inc. & Biofund, Inc.
Investment Date ................ 08/18/95 07/14/97 10/17/97 04/28/98
-------- -------- -------- --------
Amount ........................ $ 25,000 -- -- $100,000
Loan Amount ................... -- -- $ 25,000 --
Promissory Note Issued ......... -- -- 25% --
Date of Maturity ............... -- -- 10/17/98 --
Common Stock Issued ........... 4,545 7,273 12,500 120,482
Series A Preferred Stock Issued -- -- -- --
Price Per Share ............... $ 5.50 Additional -- $ 0.83
Warrant ....................... 2,273 Shares -- --
Price Per Share ............... $ 2.00 Issued as -- --
Expiration Date ............... 09/01/00 Price -- --
Warrant ....................... 2,273 Protection -- --
Price Per Share ............... $ 2.00 Arrangement -- --
Expiration Date ............... 09/01/00 -- -- --
Series F Warrants ............. -- -- -- --
Price Per Share ............... -- -- -- --
Expiration Date ................ -- -- -- --
Series G Warrants ............. -- -- -- --
Price Per Share ............... -- -- -- --
Expiration Date ................ -- -- -- --
Biofund, Inc. CD Collateral Loan -- -- -- --
Biofund, Inc. Shares Owned ..... -- -- -- --
Investment Date ................ 08/24/98 02/23/99 05/12/99 11/16/99 Totals
-------- -------- -------- -------- ------
Amount ........................ $250,000 $ 50,000 $ 50,000 -- $475,000
Loan Amount ................... -- -- -- -- $ 25,000
Promissory Note Issued ......... -- -- -- -- --
Date of Maturity ............... -- -- -- -- --
Common Stock Issued ........... 301,205 50,000 -- -- 496,005
Series A Preferred Stock Issued -- -- 50,000 -- 50,000
Price Per Share ............... $ 0.83 $ 1.00 $ 1.00 -- --
Warrant ....................... 300,000 -- -- -- 302,273
Price Per Share ............... $ 1.00 -- -- -- --
Expiration Date ............... 08/31/03 -- -- -- --
Warrant ....................... -- -- -- -- 2,273
Price Per Share ............... -- -- -- -- --
Expiration Date ............... -- -- -- -- --
Series F Warrants ............. -- 50,000 -- -- 50,000
Price Per Share ............... -- $ 1.50 -- -- --
Expiration Date ................ -- 03/31/04 -- -- --
Series G Warrants ............. -- 50,000 -- -- 50,000
Price Per Share ............... -- $ 2.00 -- -- --
Expiration Date ................ -- 03/31/04 -- -- --
Biofund, Inc. CD Collateral Loan -- -- -- $200,000 $200,000
Biofund, Inc. Shares Owned ..... -- -- -- 200 200
Summary
-------
Epigen, Inc.
Total Investment $ 500,000
Common Stock Purchased 496,005
Series A Preferred Stock 50,000
Exercisable Warrants & Options 404,545
Biofund, Inc.
Total Investment $ 200,000
Shares Owned 200
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