No finders' fees
are payable in connection with this transaction.
Qualified agents received finders' fees
of 7% of the gross proceeds from the 7,150,000 Units placed by the finders and 429,000 non-transferable Compensation Warrants equal to 6% of the number of Units placed by the finders.
40 per share to three individuals as finders' fees
In addition, the finders' fees
payable by Activeworlds upon closing were modified in limited respects with Baytree Capital, llc, an affiliate of Activeworlds, receiving 1,431,531 shares of restricted common stock and warrants to purchase an additional 1,431,531 shares at $1.
The agreement was not brokered and no fees or shares will be issued for finders' fees
, agent fees or commissions.