**EX99.3**

**Summary of Reverse Stock Split**

**Certain Risks Associated With the ReverseStock Split**

***There can be no assurance that the totalmarket capitalization of Leopard's common stock after the proposed reverse stocksplit will be equal to or greater than the total market capitalization beforethe proposed reverse stock split or that the per share market price of Leopard'scommon stock following the reverse stock split will either exceed or remainhigher than the current per share market price.***

There can be no assurance that the market price per new share of Leopard commonstock (the "New Shares") after the reverse stock split will rise or remainconstant in proportion to the reduction in the number of old shares of Leopardcommon stock (the "Old Shares") outstanding before the reverse stock split.

Accordingly, the total market capitalization ofLeopard's common stock after the proposed reverse stock split may be lower thanthe total market capitalization before the proposed reverse stock split and, inthe future, the market price of Leopard's common stock following the reversestock split may not exceed or remain higher than the market price prior to theproposed reverse stock split.  In many cases, the total market capitalization ofa company following a reverse stock split is lower than the total marketcapitalization before the reverse stock split.

***There can be no assurance that the reversestock split will result in a per share price that will attract investors. ******A decline in the market pricefor Leopard's common stock after the reverse stock split may result in a greaterpercentage decline than would occur in the absence of a reverse stock split, andthe liquidity of Leopard's common stock could be adversely affected following areverse stock split.  ***The market price of Leopard's common stock will also be based on Leopard'sperformance and other factors, some of which are unrelated to the number ofshares outstanding. If the reverse stock split is effected and the market priceof Leopard's common stock declines, the percentage decline as an absolute numberand as a percentage of Leopard's overall market capitalization may be greaterthan would occur in the absence of a reverse stock split.  In many cases, boththe total market capitalization of a company and the market price of a share ofsuch company's common stock following a reverse stock split are lower than theywere before the reverse stock split. Furthermore, the liquidity of Leopard'scommon stock could be adversely affected by the reduced number of shares thatwould be outstanding after the reverse stock split.

**Principal Effects of the Reverse Stock Split**

Corporate Matters

If approved and effected, the reverse stock splitwould have the following effects:

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(i) depending on the exact reverse stock split  ratio selected by the Board of Directors, between 2 and 20 Old Shares owned by  a stockholder would be exchanged for one (1) New Share;

(ii) the number of shares of Leopard's common  stock issued and outstanding will be reduced proportionately based on the  reverse stock split ratio selected by the Board of Directors;

(iii) the number of shares reserved for  issuance under Leopard's 2002 Stock Incentive Plan will be reduced  proportionately based on the reverse stock split ratio selected by the Board  of Directors.

If approved and effected, the reverse stock splitwill be effected simultaneously for all of Leopard's common stock and the ratiowill be the same for all of Leopard's common stock.  The reverse stock splitwill affect all of Leopard's stockholders uniformly and will not affect anystockholder's percentage ownership interests in Leopard, except to the extentthat the reverse stock split results in any of Leopard's stockholders owning afractional share.

Fractional Shares

Any fractional shares of common stock resultingfrom the reverse split will "round up" to the nearest whole number.  No cashwill be paid to any holders of fractional interests in the company.

If approved and effected, the reverse stock splitwill result in some stockholders owning "odd lots" of less than 100 shares ofLeopard's common stock. Brokerage commissions and other costs of transactions inodd lots are generally somewhat higher than the costs of transactions in "roundlots" of even multiples of 100 shares.

Authorized Shares

Upon the effective date of the reverse stocksplit, the number of authorized shares of common stock that are not issued oroutstanding would increase due to the reduction in the number of shares ofLeopard's common stock issued and outstanding based on the reverse stock splitratio selected by the Board of Directors.  As of November 21, 2002, Leopard had200,000,000 shares of common stock authorized and 5,495,826 shares of commonstock issued and outstanding.  Authorized but unissued shares will be availablefor issuance, and Leopard may issue such shares in financings or otherwise.  IfLeopard issues additional shares, the ownership interest of holders of Leopard'scommon stock may also be diluted.  Also, the issued shares may have rights,preferences or privileges senior to those of Leopard's common stock.

Accounting Matters

The reverse stock split will not affect the parvalue of Leopard's common stock.  As a result, as of the effective time of thereverse stock split, the stated capital on Leopard's balance sheet attributableto Leopard's common stock will be reduced proportionately based on the reversestock split ratio selected by the Board of Directors, and the additional paid-incapital account will be credited with the amount by which the stated capital isreduced.  The per share net income or loss and net book value of Leopard'scommon stock will be restated because there will be fewer shares of Leopard'scommon stock outstanding.

Potential Anti-Takeover Effect

Although the increased proportion of unissuedauthorized shares to issued shares could, under certain circumstances, have ananti-takeover effect (for example, by permitting issuances that would dilute thestock ownership of a person seeking to effect a change in the composition ofLeopard's Board of Directors or contemplating a tender offer or othertransaction for the combination of Leopard with another company), the reversestock split proposal is not being proposed in response to any effort of which weare aware to accumulate Leopard's shares of common stock or obtain control ofLeopard.

Procedure for Effecting the Reverse Stock Splitand Exchange of Stock Certificates

If the stockholders approve the proposal toauthorize the Board of Directors to implement the reverse stock split and theBoard of Directors decides to implement the reverse stock split on or prior toJuly 1, 2003, each outstanding share of the Company will automatically beconverted on the effective date at the applicable reverse stock split ratio. Stockholders will be notified as soon as practicable that the reverse split hasbeen effected.  It will not be necessary for shareholders of the Company toexchange their existing stock certificates.

Federal Income Tax Consequences of the ReverseStock Split

The following is a summary of certain materialfederal income tax consequences of the reverse stock split.  It does not purportto be a complete discussion of all of the possible federal income taxconsequences of the reverse stock split and is included for general informationonly. Further, it does not address any state, local or foreign income or othertax consequences.  Also, it does not address the tax consequences to holdersthat are subject to special tax rules, such as banks, insurance companies,regulated investment companies, personal holding companies, foreign entities,non-resident alien individuals, broker-dealers and tax-exempt entities.  Thediscussion is based on the provisions of the United States federal income taxlaw as of the date hereof, which is subject to change retroactively as well asprospectively.  This summary also assumes that the Old Shares were, and the NewShares will be, held as a "capital asset," as defined in the Internal RevenueCode of 1986, as amended (i.e., generally, property held for investment).  Thetax treatment of a stockholder may vary depending upon the particular facts andcircumstances of such stockholder.  Each stockholder is urged to consult withsuch stockholder's own tax advisor with respect to the tax consequences of thereverse stock split.

No gain or loss should be recognized by astockholder upon such stockholder's exchange of Old Shares for New Sharespursuant to the reverse stock split.  The aggregate tax basis of the New Sharesreceived in the reverse stock split (including any fraction of a New Sharedeemed to have been received) will be the same as the stockholder's aggregatetax basis in the Old Shares exchanged therefor.  The stockholder's holdingperiod for the New Shares will include the period during which the stockholderheld the Old Shares surrendered in the reverse stock split.

Leopard's view regarding the tax consequences ofthe reverse stock split is not binding on the Internal Revenue Service or thecourts.  ***Accordingly, each stockholder should consult with his or her owntax advisor with respect to all or the potential tax consequences to him or herof the reverse stock split.***

Vote Required; Recommendation of Board ofDirectors

The affirmative vote of the holders of a majorityof all outstanding shares of Leopard's common stock entitled to vote on thisproposal will be required for approval of this proposal.  The Board of Directorsrecommends a vote "FOR" the proposal to grant discretionary authority toLeopard's Board of Directors to effect a reverse stock split of Leopard's commonstock at a ratio within the range from one-for-two to one-for-twenty at any timeprior to July 1, 2003.