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Edgar Filing: TIDELANDS OIL & GAS CORP/WA - Form 10-K - page 42 / 83

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Edgar Filing: TIDELANDS OIL & GAS CORP/WA - Form 10-K

organized

u

nder California law. MAG Capital, LLC, a California limited liability

company,

fo

rmerly Mercator Advisory Group, LLC, is its

i

s the

h

olds

Firestone Fund, LP

Managing

Member of the MAG Capital,

common

stock

warrants

to

purchase

up

general partner.

David F.

LLC.

Mercator

Momentum

to

751,974

shares

of

our

common sto

ck.

exercisable

at

Half

the

$0.87

per

warrants share.

are

exercisable

at $0

.80 per share and half

(5) Mercato organized u company, i the MAG Cap up to 518,0

r Momentum Fund III, LP is a private investment

limited

partnership

nder California law. MAG

s

its

general

partner.

Capital, David F.

LLC, a California limited Firestone is the Managing

liability Member of

ital, LLC. Mercator Momentum 92 shares of our common stock

Fund III, and 3,836

LP holds warrants to purchase

shares

of

common

stock.

Half

the warrants are per share.

exercisable

at $0.80 per share and half

exercisable at $0.87

(6) Monarch Pointe Fund,

Ltd. is a corporation

organized

under of the British

Virgin Pointe shares

Islands.

Mercator

Advisory Group

controls the

investments of Monarch

Fund. of our

Monarch

Pointe Fund holds

warrants to purchase up to

common

stock.

Half

the

warrants

are

exercisable

at

$0.80

1,690,462 per share

and half exercisable at $0.87 per share.

(7) MAG Capital,

LLC,

formerly Mercator Advisory Group, LLC, holds warrants to

purchase

up

to

3,371,710

shares

of

our

common

stock.

Half

the

warrants

are

exercisable at $0.80 per share and half exercisable at $0.87 per

share.

(8) Robinson Reed holds 200,000 common stock

warrants,

100,000

exercisable at

$0.80

per

share

and

100,000

exercisable

at

$0.87

per

share.

(9) Rhone International holds at $0.80 per share and 23,3550

46,710 common stock warrants, exercisable at $0.87 per share.

23,355 exercisable

(10) Mr. Ward is the President, Chief Executive officer and Chairman of our

Board of Directors.

(11) This total does not reflect the Mercator Momentum Fund, LP, Mercator

summation of Momentum Fund

the III

,

beneficial

ownership of

LP, Monarch

Pointe Fund,

Ltd., MAG Capital, LLC and Robinson Reed and David F. Firestone (Mercator).

The

total number of warrants

exerciseable the Mercator

therefore beneficial

the total ownership

only includes of all entities.

this

figure

once

entities hold

and

does

not

is 6,532,238, duplicate the

  • (b)

    Security Ownership of Management. Based on 78,495,815 shares as set forth in

  • (a)

    above as of December 31, 2005.

Table 2.

Title of Class

Name and Address

Amount and Nature

Common

Michael Ward 1862 W. Bitters Rd. San Antonio, TX 78248

6,317,038

Percent of Class

8.04%

Common

James B. Smith 1862 W. Bitters Rd. San Antonio, TX 78248

1,187,050(1)

1.51%

Common

Ahmed Karim 1532 Woods Dr. N. Vancouver, B.C. Canada V7R 1A9

502,500

0.64%

  • -

    35-

42

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