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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme
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To: Gene Kopple who wrote (302)5/26/1998 1:01:00 PM
From: Dave Gore   of 8798
 
C'mon Gene! Use a little common sense and check the MIDL news stories for your proof or check the MIDL thread. This is very public info.

Why the MIDLW warrants are undervalued right now... and why the "P" is even worse. The WARRANTS are the more timely play, IMO, right now.

Re-read the press release from the other day:
"The second matter is a reduction of the exercise price of the
Midland warrants (MIDLW) from $1.00 to $0.50. This brings the
exercise price of the warrants in line with the common. All other
conditions concerning the warrants will not be effected."

HERE IS THE KEY TO WHY THE WARRANTS ARE UNDERVALUED RIGHT NOW:
"As soon as the registration statement registering the common stock
underlying the warrants becomes effective, the warrants may be
exercised."

THE BIG QUESTION IS:
When will we EXACTLY be able to convert the warrants to common for 50 cents? I have a call in to Daniel at Arcon. As soon as you can do this, the Warrants will likely go up in value about 30-50 cents. The MM's are taking advantage right now, because they know it still technically costs us $1.00 to convert to 1 share of common....or perhaps there is not even any chance to convert right now at all, since we are in limbo with the warrants going down to 50 cents.

So.... the warrants are a steal right here if the common holds anywhere close to where it is right now.
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