PROSPECTUS SUPPLEMENT #1 FILED PURSUANT TO RULE 424(b)(3)
(TO PROSPECTUS DATED JANUARY 9, 2003) REGISTRATION NO. 333-101731
EQUITEX, INC.
25,223,061 SHARES OF COMMON STOCK TO BE OFFERED
AND SOLD BY THE SELLING SECURITYHOLDERS
- --------------------------------------------------------------------------------
This prospectus supplement relates to a public offering of shares of
common stock of Equitex, Inc. by the selling securityholders.
This prospectus supplement should be read in conjunction with the
prospectus dated January 9, 2003, which is to be delivered with this prospectus
supplement. The definitions for any capitalized terms used in this prospectus
supplement are included in the prospectus.
SELLING SECURITYHOLDERS
The information in the table included under the heading "Selling
Securityholders" in the prospectus is superceded by the information appearing in
the following table:
SELLING SHARES OF SHARES OF SHARES OF SHARES OF TOTAL AMOUNT OF PERCENT OF
SECURITYHOLDER COMMON COMMON STOCK COMMON STOCK COMMON STOCK SHARES OF COMMON STOCK OUTSTANDING
NAME STOCK TO BE ISSUED AND RECEIVED AND COMMON STOCK TO OWNED BY COMMON STOCK
OWNED OFFERED FOR ISSUABLE UPON TO BE RECEIVED BE OFFERED FOR SECURITYHOLDER OWNED BY
PRIOR TO SECURITYHOLDER'S CONVERSION OF UPON THE SECURITYHOLDER'S AFTER THE SECURITYHOLDER
THIS ACCOUNT PREFERRED EXERCISE OF ACCOUNT OFFERING AFTER THE
OFFERING STOCK WARRANTS OFFERING
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
NOVA AND KEY SELLING SECURITYHOLDERS
- ---------------------------------------------------------------------------------------------------------------------------------
Anthony N. Amico 6,000 869,970 869,970 6,000 0.03%
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
John Ablahani, as 445,153 241,250 686,403
Trustee of the
DNAA Irrevocable
Trust Agreement
dated February 7,
1996
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
First Union 578,699 313,625 892,324
National Bank as
Trustee of the
Anthony Amico,
Jr. Irrevocable
Trust Agreement
of 2001 Number 1
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
AmSouth Bank, as 578,699 313,625 892,324
Trustee of the
Anthony Amico,
Jr. Irrevocable
Trust Agreement
of 2001 Number II
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Thomas Little, 578,699 313,625 892,324
Esq., as Trustee
of the Anthony
Amico, Jr.
Irrevocable Trust
Agreement of
2001 Number III
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Laura Lipowski, 578,699 313,625 892,324
Esq., as Trustee
of the Anthony
Amico, Jr.
Irrevocable Trust
Agreement of
2001 Number IV
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
SELLING SHARES OF SHARES OF SHARES OF SHARES OF TOTAL AMOUNT OF PERCENT OF
SECURITYHOLDER COMMON COMMON STOCK COMMON STOCK COMMON STOCK SHARES OF COMMON STOCK OUTSTANDING
NAME STOCK TO BE ISSUED AND RECEIVED AND COMMON STOCK TO OWNED BY COMMON STOCK
OWNED OFFERED FOR ISSUABLE UPON TO BE RECEIVED BE OFFERED FOR SECURITYHOLDER OWNED BY
PRIOR TO SECURITYHOLDER'S CONVERSION OF UPON THE SECURITYHOLDER'S AFTER THE SECURITYHOLDER
THIS ACCOUNT PREFERRED EXERCISE OF ACCOUNT OFFERING AFTER THE
OFFERING STOCK WARRANTS OFFERING
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Shauna 200,000 579,869 779,869
Hoopingarner, as
Trustee of the
Anthony Amico,
Jr. Irrevocable
Trust Agreement
of 2001 Number V
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Brett Fisher, 90,856 49,239 140,095
Shauna
Hoopingarner and
Susan Revels, as
Co-Trustees of
the First American
Management
Irrevocable Trust
Agreement of 2001
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Northern Trust 90,856 49,239 140,095
Bank of Florida,
N.A., as Trustee
of the Hudson
Irrevocable Trust
Agreement of 2001
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Northern Trust 90,856 49,239 140,095
Bank of Florida,
N.A., as Trustee o
the Pope
Irrevocable Trust
Agreement of 2001
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Thomas C. Little, 90,856 49,239 140,095
Esq., as Trustee
of the Eagle One
Irrevocable Trust
Agreement
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Charles R. Darst 38,500 863,597 468,026 1,331,623 38,500 0.21%
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Dia Erickson 33,300 863,597 468,026 1,331,623 33,300 0.18%
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Scott A. Lucas 962,722 962,722
and Susan Lucas,
as Tenants by
the Entirety
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Scott A. Lucas 7,500 579,001 579,001 7,500 0.04%
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Ed Barbara and 578,699 313,625 892,324
Helen Barbara, as
Tenants by the
Entirety
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Patricia Jersey 89,031 48,250 137,281
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Robert Venniro 2,007 22,258 12,063 34,321 2,007 0.01%
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
SELLING SHARES OF SHARES OF SHARES OF SHARES OF TOTAL AMOUNT OF PERCENT OF
SECURITYHOLDER COMMON COMMON STOCK COMMON STOCK COMMON STOCK SHARES OF COMMON STOCK OUTSTANDING
NAME STOCK TO BE ISSUED AND RECEIVED AND COMMON STOCK TO OWNED BY COMMON STOCK
OWNED OFFERED FOR ISSUABLE UPON TO BE RECEIVED BE OFFERED FOR SECURITYHOLDER OWNED BY
PRIOR TO SECURITYHOLDER'S CONVERSION OF UPON THE SECURITYHOLDER'S AFTER THE SECURITYHOLDER
THIS ACCOUNT PREFERRED EXERCISE OF ACCOUNT OFFERING AFTER THE
OFFERING STOCK WARRANTS OFFERING
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Frank Cantero 22,258 12,063 34,321
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
George Lutich 133,546 72,375 205,921
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Richard Perez 222,577 120,625 343,202
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
John Ablahani 89,031 48,250 137,281
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Marilyn Silvers 89,031 48,250 137,281
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
David Giorgione 178,061 96,501 274,562
and Victoria
Giorgione, as
Tenants by the
Entirety
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Michelle Rice 178,061 96,501 274,562
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Robert Gordon 89,031 48,250 137,281
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Brett Fisher 178,061 96,501 274,562
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Leonard Solie 44,515 24,125 68,640
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Henry Fong (1) 596,519 90,853 49,239 140,092 596,519 (2) 3.23% (2)
(2)
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Gary Benson 214,800 45,428 24,619 70,047 214,800
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Ralph Klein 50,000 45,428 24,619 70,047 50,000 0.27%
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Chex Services, 105,645 105,645
Inc. (3)
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
SERIES H PREFERRED STOCKHOLDERS
- ---------------------------------------------------------------------------------------------------------------------------------
Les Boelter 1,000 2,000 2,000 4,000 1,000 0.005%
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Joseph Bushman 10,000 10,000 20,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
F.D. Copp 45,000 10,000 10,000 20,000 45,000 0.24%
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Richard E. Dana 10,000 10,000 20,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Alan Gainsford 80,000 80,000 160,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Goben Enterprises 80,000 100,000 180,000
LP
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Duane Hennen 15,000 15,000 30,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Joseph R. Jensen 5,000 5,000 10,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Robert L. 20,000 20,000
Johander
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Steven A. Kalin 12,000 12,000 24,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Ralph & Sharon 60,000 60,000 120,000
Klein
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Billy & May Nin 10,000 10,000 20,000
Kong
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
SELLING SHARES OF SHARES OF SHARES OF SHARES OF TOTAL AMOUNT OF PERCENT OF
SECURITYHOLDER COMMON COMMON STOCK COMMON STOCK COMMON STOCK SHARES OF COMMON STOCK OUTSTANDING
NAME STOCK TO BE ISSUED AND RECEIVED AND COMMON STOCK TO OWNED BY COMMON STOCK
OWNED OFFERED FOR ISSUABLE UPON TO BE RECEIVED BE OFFERED FOR SECURITYHOLDER OWNED BY
PRIOR TO SECURITYHOLDER'S CONVERSION OF UPON THE SECURITYHOLDER'S AFTER THE SECURITYHOLDER
THIS ACCOUNT PREFERRED EXERCISE OF ACCOUNT OFFERING AFTER THE
OFFERING STOCK WARRANTS OFFERING
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Jake Kooiman 2,000 2,000 4,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Edward J. Names 58,958 10,000 10,000 20,000 58,958 0.32%
(4) (4)
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Charles J. Petit 10,000 10,000 20,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Dave Reimer 18,000 18,000 36,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Ron J. & Patricia 10,000 10,000 20,000
Shimek
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Laurie & Michael 7,000 7,000 14,000
Snow
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Dennis Staal 14,400 10,000 10,000 20,000 14,400 0.08%
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
John P. Thysell 20,000 20,000 40,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
W.G. Securities, 15,700 18,800 18,800 37,600 15,700 0.09%
L.P.
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Daniel Bishop 50,000 50,000 100,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
John J. Appert 2,000 2,000 4,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
SERIES I PREFERRED STOCKHOLDERS
- ---------------------------------------------------------------------------------------------------------------------------------
Alpha Capital 557,474 110,000 667,474
Aktiengeselschaft
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Wayne Mills 115,274 40,000 155,274
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
The Shaar Fund 914,286 160,000 1,074,286
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Stonestreet 25,409 40,000 65,409
Limited
Partnership
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
W.E.C. Asset 82,950 50,000 132,950
Management, LLC
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
MISCELLANEOUS PRIVATE PLACEMENTS (5)
- ---------------------------------------------------------------------------------------------------------------------------------
Daniel Bishop 389,909 230,000 619,909
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
John H. Black 95,000 60,000 155,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
David R. Black 6,667 6,667
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Michael J. Black 6,667 6,667
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Christopher P. 6,666 6,666
Black
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Les Boelter 3,000 5,000 8,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
James Burford 83,333 83,333
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Trust Company of 36,363
the South FBO
James Burford
(IRA) 36,363
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Joseph Bushman 10,000 10,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Chex Services, 146,000 80,000 226,000
Inc.
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
SELLING SHARES OF SHARES OF SHARES OF SHARES OF TOTAL AMOUNT OF PERCENT OF
SECURITYHOLDER COMMON COMMON STOCK COMMON STOCK COMMON STOCK SHARES OF COMMON STOCK OUTSTANDING
NAME STOCK TO BE ISSUED AND RECEIVED AND COMMON STOCK TO OWNED BY COMMON STOCK
OWNED OFFERED FOR ISSUABLE UPON TO BE RECEIVED BE OFFERED FOR SECURITYHOLDER OWNED BY
PRIOR TO SECURITYHOLDER'S CONVERSION OF UPON THE SECURITYHOLDER'S AFTER THE SECURITYHOLDER
THIS ACCOUNT PREFERRED EXERCISE OF ACCOUNT OFFERING AFTER THE
OFFERING STOCK WARRANTS OFFERING
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
F.D. Copp, Jr. 10,000 10,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Richard Dana 10,000 10,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Dom Dichira 25,000 25,000 50,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Duane Hennen 15,000 15,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Joe Jensen 5,000 5,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
UBS 12,600 12,600 25,200
PaineWebber, Inc.
as Custodian FBO
Irwin Kaufman
#3R 50087
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Billy Kong & May 10,000 10,000
Nin Kong
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Jake Kooiman 2,000 2,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Joel & Dana 50,000 50,000 100,000
Mirviss
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Richard Myers 20,000 20,000 40,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Edward Names 10,000 10,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Charles Petit 10,000 10,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
David W. Reimer 22,000 40,000 62,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Chip Rice 200,000 200,000 400,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
William Rice 1,049 1,049
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Stewart Segal 40,000 20,000 60,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Gordon Severson 4,000 4,000 8,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Laurie A. & 7,000 7,000
Michael L. Snow
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Dennis Staal 10,000 10,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
John Thysell 10,000 30,000 40,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Joseph Trungale 80,000 80,000 160,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Mike Wruck 16,000 16,000 32,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
COMMON STOCK AND WARRANTS ISSUED TO CONSULTANTS/UNDERWRITERS
- ---------------------------------------------------------------------------------------------------------------------------------
Gary Benson 100,000 100,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Michael Casazza 10,000 10,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Allen Gainsford 100,000 100,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Feltl and Company 198,530 198,530
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
John C. Feltl 4,718 4,718
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
John E. Feltl 14,272 14,272
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
SELLING SHARES OF SHARES OF SHARES OF SHARES OF TOTAL AMOUNT OF PERCENT OF
SECURITYHOLDER COMMON COMMON STOCK COMMON STOCK COMMON STOCK SHARES OF COMMON STOCK OUTSTANDING
NAME STOCK TO BE ISSUED AND RECEIVED AND COMMON STOCK TO OWNED BY COMMON STOCK
OWNED OFFERED FOR ISSUABLE UPON TO BE RECEIVED BE OFFERED FOR SECURITYHOLDER OWNED BY
PRIOR TO SECURITYHOLDER'S CONVERSION OF UPON THE SECURITYHOLDER'S AFTER THE SECURITYHOLDER
THIS ACCOUNT PREFERRED EXERCISE OF ACCOUNT OFFERING AFTER THE
OFFERING STOCK WARRANTS OFFERING
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Bradford Geisen 13,333 86,667 100,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Hyperion Holdings 3,750 3,750 7,500
LLC
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Barry Hollander 17,000 17,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Nick Honigman 566 566
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Steve Hosier 3,303 3,303
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
David B. Johnson 14,272 14,272
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Todd C. Johnson 566 566
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Paul R. Kuehn 4,541 4,541
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
David Lantz 3,303 3,303
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Paul T. Mannion 4,312 4,312 8,624
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Miller Johnson 47,180 47,180
Steichen Kinnard
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Eldon C. Miller 14,272 14,272
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Richard J. Nigon 6,416 6,416
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Stan D. Rahm 4,541 4,541
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Andrew S. Reckles 4,312 4,312 8,624
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Chip Rice 101,167 101,167
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
William Rice 1,049(6) 1,049
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Vincent S. Sbarra 2,626 2,626 5,252
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Shaar Fund LTD 167,083 167,083
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
John F. Stapleton 50,000 50,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
World Capital 80,200 80,200
Funding
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Michael Wruck 15,734 15,734
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
DEBT CONVERSIONS
- ---------------------------------------------------------------------------------------------------------------------------------
Capco Asset 119,662(7) 20,000(7) 139,662
Management
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Russell L. 795(8) 795(8) 1,590
Casement
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Chex Services, 130,682(9) 130,682
Inc.
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Robert Darst 17,000 17,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Equitex 2000, Inc. 78,339(10) 78,339(10) 156,678
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Dia Erickson 30,000 30,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
SELLING SHARES OF SHARES OF SHARES OF SHARES OF TOTAL AMOUNT OF PERCENT OF
SECURITYHOLDER COMMON COMMON STOCK COMMON STOCK COMMON STOCK SHARES OF COMMON STOCK OUTSTANDING
NAME STOCK TO BE ISSUED AND RECEIVED AND COMMON STOCK TO OWNED BY COMMON STOCK
OWNED OFFERED FOR ISSUABLE UPON TO BE RECEIVED BE OFFERED FOR SECURITYHOLDER OWNED BY
PRIOR TO SECURITYHOLDER'S CONVERSION OF UPON THE SECURITYHOLDER'S AFTER THE SECURITYHOLDER
THIS ACCOUNT PREFERRED EXERCISE OF ACCOUNT OFFERING AFTER THE
OFFERING STOCK WARRANTS OFFERING
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Gulfstream 1998 191,425(11) 141,425(11) 332,850
Irrevocable Trust
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Joseph W. 477(12) 477(12) 954
Hovorka
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Scott Lucas 20,000 20,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
TR Capital Corp. 12,156(13) 12,156(13) 24,312
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
USA Skate Corp. 37,258(14) 37,258(14) 74,516
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
SERIES J STOCKHOLDERS
- ---------------------------------------------------------------------------------------------------------------------------------
Joe Bushman 75,000 3,000 78,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Chex Services, 625,000 65,000 690,000
Inc.
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Baja Investments 1,000,000 1,000,000
LLC
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Discount Video 750,000 30,000 780,000
Liquidators, Inc.
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Feltl and 345,000 345,000
Company, Inc.
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Duane Hennen 62,500 2,500 65,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Joseph Jenson 25,000 1,000 26,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Joel Mirviss 37,500 1,500 39,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Ray Newkirk 62,500 2,500 65,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Charles Pettie 125,000 5,000 130,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Dave Reimer 125,000 5,000 130,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Tee & Bee, Inc. 500,000 20,000 520,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
Tom Vertin 62,500 2,500 65,000
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
TOTALS 1,083,684 10,918,154(15) 5,617,193(16) 8,687,714(17) 25,223,061(18) 1,083,684
- ------------------ ---------- ---------------- ------------- -------------- ---------------- -------------- --------------
(1) Henry Fong is the President, Treasurer and Chief Financial Officer of
Equitex.
(2) Includes 390,219 shares owned by another company in which Henry Fong is the
sole member.
(3) Chex Services, Inc., is our wholly-owned subsidiary.
(4) Includes 39,758 shares owned by another company in which Edward J. Names
the general partner.
(5) Includes 78,635 shares of common stock sold in January 2002 for $2.75 per
share; 83,333 shares of common stock sold in April 2002 for $1.20 per
share; 247,818 shares of common stock sold in June 2002 for $.55 per share;
802,600 shares of common stock and warrants to purchase 992,649 shares of
common stock sold in July 2002 for $.50 per share.
(6) 1,049 shares issued upon conversion of a warrant issued to an underwriter
in connection with the Series H
preferred stock issuance at an exercise price of $0.50 per share.
(7) Shares of common stock and warrants issued pursuant to a convertible
promissory note in the amount of $102,910 dated December 20, 2001, between
us and Capco Asset Management.
(8) Shares of common stock and warrants issued to one of our directors upon
conversion of a $4,166 debt based upon the closing stock price of $5.24 per
share as reported by the Nasdaq Stock Market at the close of business on
August 1, 2001
(9) 130,682 shares issued pursuant to a promissory note in the amount of
$62,814 between us and Chex Services, Inc., dated January 3, 2002.
(10) Shares of common stock and warrants issued as compensation to Equitex 2000,
Inc., for $410,496 in expenses related to our acquisitions of Nova
Financial Systems, Inc., and Key Financial Systems, Inc., based upon the
closing stock price of $5.24 per share as reported by the Nasdaq Stock
Market at the close of business on August 1, 2001.
(11) Shares of common stock and warrants issued to Gulfstream 1998 Irrevocable
Trust upon conversion of a $1,003,067 note based upon the closing stock
price of $5.24 per share as reported by the Nasdaq Stock Market at the
close of business on August 1, 2001.
(12) Shares of common stock and warrants issued to one of our directors upon
conversion of a $2,500 debt based upon the closing stock price of $5.24 per
share as reported by the Nasdaq Stock Market at the close of business on
August 1, 2001.
(13) Shares of common stock and warrants issued to TR Capital Corp. upon
conversion of a $63,695 note based upon the closing stock price of $5.24
per share as reported by the Nasdaq Stock Market at the close of business
on August 1, 2001.
(14) Shares of common stock and warrants issued to USA Skate Corp. upon
conversion of $195,232 in debt.
(15) 9,084,773 shares of common stock issued pursuant to the acquisitions of
Nova Financial Systems, Inc. and Key Financial Systems, Inc., which were
previously registered on our Prospectus on Form 424B1 to the Registration
Statement on Form S-3/A (Amendment No. 1), Commission File No. 333-73374,
are being carried over pursuant to Rule 429(b).
(16) 2,167,193 shares of common stock issued or to be issued upon conversion of
our Series H and I preferred stock, which were previously registered on our
Prospectus on Form 424B1 to the Registration Statement on Form S-3/A
(Amendment No. 1), Commission File No. 333-73374, are being carried over
pursuant to Rule 429(b).
(17) 5,795,284 shares of common stock underlying warrants, which were previously
registered on our Prospectus on Form 424B1 to the Registration Statement on
Form S-3/A (Amendment No. 1), Commission File No. 333-73374, are being
carried over pursuant to Rule 429(b).
(18) 17,047,250 shares of common stock underlying warrants, which were
previously registered on our Prospectus on Form 424B1 to the Registration
Statement on Form S-3/A (Amendment No. 1), Commission File No. 333-73374,
are being carried over pursuant to Rule 429(b).
SEE "RISK FACTORS" BEGINNING ON PAGE 9 OF THE PROSPECTUS FOR CERTAIN RISKS
YOU SHOULD CONSIDER BEFORE YOU PURCHASE ANY SHARES OF COMMON STOCK.
- --------------------------------------------------------------------------------
Neither the SEC nor any state securities commission has approved or determined
whether the prospectus supplement is truthful or complete. Nor have they made,
nor will they make, any determination as to whether anyone should buy these
securities. Any representation to the contrary is a criminal offense.
- --------------------------------------------------------------------------------
The date of this prospectus supplement is January 9, 2004