7. COMMON STOCK AND ADDITlONAL PAID-IN CAPITAL

On February 25, 1999 the Company's shareholders approved an increase in the Company's authorized shares of common stock from 400,000,000 to 1,600,000,000 shares to permit a two-for-one stock split that was previously approved by the Board of Directors. The stock split was effected by means of a 100% stock dividend as of March 1, 1999 to holders of record January 26, 1999.

All references throughout the consolidated financial statements to number of shares, per share amounts and stock option data reflect the stock split.