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Microcap & Penny Stocks : JAWS Technologies - NASDAQ (NM):JAWZ
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To: WHL who wrote (1316)12/2/1998 5:10:00 PM
From: Walter Morton  Read Replies (1) of 3086
 
"An investment in the Common Stock involves a high degree of risk and immediate substantial dilution."

From 8.7 million to 50.1 million shares outstanding.

That is a huge dilution for those who buy the stock before the 50.1 million shares are converted.

My best guess is that if the stock was valued at $.60 while there were only 8.7 million shares outstanding, then all other things being equal, the stock would be valued at around $.10 after there are 50.1 million shares outstanding.

Giving some the option to buy shares at a 22% and 23% discount won't help keep the stock price up either.

Did you see the options? I think the lowest is an exercise price of $.40 in 2004.

I did not see a date for when that other 41.4 million convertible shares must be converted except for the debenture (Year 2001).

I seem to recall reading on JAWZ's web page (in the investor kit) that JAWZ wanted to raise a huge amount of money from the issuance of stock. This stock offering will produce $11.2 million. I think JAWZ wanted to raise $47 million. Is JAWZ going to issue more stock and dilute earnings even more to get to that $47 million dollar figure? Perhaps Barrie can verify that number. I can't find the investor kit on the web page anymore. What is the currency conversion rate from Canadian to US dollars?
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