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Microcap & Penny Stocks : CLVE It's about to Break it's 52 week high!
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To: David Sirk who wrote (130)7/9/1999 11:08:00 AM
From: Zeev Hed  Read Replies (1) of 166
 
I believe you will see SCOP back under $6 within six months. Often the bandits use a PR campaign to pump the stock so that they can short above the ceiling and get all their money out, then, they let it sink slowly and lay out additional short. The limitation on the number of shares, while an interesting preventive measure, but it does not make much sense. It is probably a percentage of authorized share (I cannot say with out the whole document before me), since Yahoo quote the number of outstanding shares as only some 24.6 MM thus 24 MM could not be 4.6%. This discrepancy by itself should be a huge red flag to any investor. The fact that their financial data are according to the UK standards make it very difficult to determine what this company is about. I would stay away from SCOP as well as CLEV. Bad bed follows.

You should also be aware that many time when this provision is applied, it is temporal (namely at any time no more than..., but they can stagger their conversion so that any time they do not convert more than 4.6% and since these shares are always previously shorted share, they actually never own 4.6% of the company. The NAZ require a special waver for financing that result at any time in conversion to more than 4.6% ownership, and that is the sole reason this measures is probably there.

Zeev

Zeev
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