Why is a reverse stock split being proposed?
The purpose of the reverse stock split is to reduce the number of outstanding shares of our common stock in an effort to achieve a desired per share price in connection with listing our common stock on a U.S. stock exchange (e.g. the American Stock and Options Exchange or Nasdaq Stock Exchange) which we believe may be useful if we were to pursue a public offering. Who can vote? You can vote your shares if our records show that you owned shares of our common stock as of January 23, 2007. On that date, a total of 48,109,164 shares of common stock were outstanding and entitled to vote at the special meeting. Each stockholder is entitled to one vote for each share of common stock held by such stockholder. The enclosed proxy card shows the number of shares you can vote. How do I vote by proxy? Follow the instructions on the enclosed proxy card to vote on each proposal to be considered at the special meeting. Sign and date the proxy card and mail it back to us in the enclosed envelope. The p
