Sir, Mike: 5 to 1 common to Prfd. take 53,800,334 - 23,800,334 = 30,000,000
30MM is 5 to 1 prfd. or 23,800,334 + 5,000,000 = 28,800,334
OK, now when???? as the 5 to 1 rate may have been done any time in the past yet
just filed for conversion with the TA, yes that may have been done at .50 cents
so the basis would be $2.50 for Pfrd. So try March 06, 1998 and you have 100 trade
days to anounce it with the TA, the average would be $0.5090 at that time.
now it's 100 trade days later and wammmey no anouncment. just 28,8 MM shares.
Give NPEC more like for there 20% of the holdings in Prfd. issue and convert the
rest of the 144R stock to Prfd. is a possiblity. or just common to NPEC and Prfd
issue to the 144R stock holders of record. A Major moves in buys out 51% of the
Prfd. issue and takes the rest after developlment of the projects, at that time
we get news on time from there after. Would this work?? that's the question IF...
or If, if, if, hmmmm nice guess yet who knows. not I yet it seems to be very warm.
No wonder they gave us 10 days it will take that long to do this.. |
