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UTTC |
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Located in Bismark, North Dakota, UTTC had been tracking assets through a manual process that was not integrated with its financial and administrative systems. During the three months ended September 30, 2001, Ashton exchanged its investment in JAGfn for the outstanding shares of UTTC series TK convertible preferred stock, 200,000 series T warrants, 309,500 of the 500,000 outstanding series K warrants, and an additional 39,000 shares of the class B common stock of Ashton Canada. Rittereiser, said, "While we continue to work on strategic investments for both of our subsidiaries, UTTC and eMC, this financing will provide us with sufficient continued funding for our initiatives. |
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