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Microcap & Penny Stocks : nhmcf
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To: R. Brinks who wrote (607)7/21/1998 12:20:00 PM
From: Bernard Elbaum  Read Replies (1) of 702
 
I spoke to Dexter at IR who says the company has $6 million in cash and has no cash shortfall. He also indicated that one set of convertible debentures had been converted at a rate of 20% per month starting 7 months ago--which implies the conversion was complete some 2 months ago--and that the other cannot be converted below 2 1/2. He said he has heard no negative rumors about the letter of intent.

The explanation he offered for the recent fall in stock price was that the delisting from the Vancouver exchange means that the stock is no longer marginable, so that those who owned the stock on margin (chiefly brokers?) had to sell out. NOthing to do with fundamentals was his position.
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