(2) Includes 1,457,328 shares which are owned by ALC Holdings, LLC
, a limited liability company owned and controlled by Craig Grossman
and Linda Kwan.
(3) Does not include options to purchase 10,000 shares of the Company's Common Stock granted to Craig Grossman
on November 4, 2001 and options to purchase 10,000 shares of the Company's Common Stock granted to Craig Grossman
on April 1, 2003, which options will be cancelled upon the closing of the SPA.
...Craig Grossman Chief Executive Officer, President, Corporate Secretary, and Chairman
...Craig Grossman, age 43, has served as a director of the Company since May 21, 1999.From September 12, 2001 until December 4, 2001, Mr. Grossman served as the acting President of the Company.On December 4, 2001, the board of directors appointed Mr. Grossman the Chief Executive Officer and President of the Company.In 2003, he assumed the position of Corporate Secretary of the Company.From 1999 to the present Mr. Grossman has been the President of Allied Conservancy Group, Inc., a private hedge fund.Since 1999, Mr. Grossman has served as the managing partner of Tallman Gulch Development Group, LLC, an investment group funding a 500-acre residential land development in Douglas County, Colorado.From 1993 to 2001, he served as the Vice President of Saddleback Mountain Development, an investment group funding an 1800-acre residential development in Evergreen, Colorado.From 1998 to 1999, Mr. Grossman served as the Chief Executive Officer of On-line Mortgage Service, a licensed retail mortgage broker doing business in 11 states.From 1994 to 1995, Mr. Grossman also served as the President and a Director of Regency Affiliates, Inc.