X-Message-Number: 6676
Date: 04 Aug 96 04:21:14 EDT
From: Paul Wakfer <>
Subject: Prometheus Pledge Condition Changes

     As a result of receiving some excellent ideas and very persuasive
arguments from Greg Stock, I have made the following changes to the proposed
terms of the share purchase agreements which the pledges will become when the
campaign has reached its goal of a pledge total of $1M per year for 10 years.

1. Pledges will still be made as a minimum of $1K for each of 10 years, but
now the 10 year share purchase agreement has the following termination
conditions:
a)   the agreement may be terminated without penalty after 3 years and after
     6 years. (Obviously this means that a major project review will take
     place at 3 years and at 6 years into the project.)
b)   If the agreement is terminated by the pledger/share purchaser at any
     other time, all stock purchased since the last "no penalty exit time"
     reverts to the corporation. (This means that the money paid for those
     shares becomes, in effect, a donation and the purchaser can take a tax
     loss.)
c)   There will still be conditions for termination or transfer at any time
     without penalty due to unforseen economic hardship.

2. For original pledger/share purchasers, the value of their shares for the
purpose of purchasing technology from the corporation will be the higher of 
the market value or:
a)   150% of all prior share purchases after completion of the first 3 years,
b)   200% of all prior share purchases after completion of the first 6 years,
c)   300% of all prior share purchases after completion of 10 years of share
     purchases or the corporation goes public whichever happens first.

3) Each original pledger/share purchaser will have access to a pool of shares
vested in 10 years (but at the current price). For each share purchased, an
additional share will be placed in the pool. Those terminating their share
purchase agreements lose their entitlement to purchase from this pool and any
shares which have been put in the pool as a result of their purchases will be
available to the remaining original investors in proportion to their
pledges/share purchases.


-- Paul --

!!!!! REVERSIBLE BRAIN CRYOPRESERVATION *CAN* BE ACHIEVED IN 10 YEARS !!!!!

Paul Wakfer  email:        Voice/Fax:     Pager:
US:     1220 E Washington St #24, Colton, CA 92324 909-481-4433 800-805-2870
Canada: 238 Davenport Rd #240, Toronto, ON M5R 1J6 416-968-6291 416-446-9461
(Currently in California)


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