This excerpt taken from the FRZ 10-Q filed May 16, 2005.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
On March 17, 2005, we issued 1,799 shares of common stock in connection with the exercise of employee stock options. The options had an exercise price $1,000 per share or an aggregate of $1,798,535. These shares were issued without registration under the Securities Act by reason of the exemption from registration afforded by the provisions of Section 4(2) thereof, and Rule 701 promulgated thereunder, as a transaction by an issuer not involving any public offering.