MIDL .... A Real Sleeper Message Board

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Microcap & Penny Stocks : MIDL .... A Real Sleeper

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To: Ed Hoftell who wrote (5788)	6/8/1999 8:01:00 AM
From: Ga Bard	Read Replies (2) of 7039

ED ???? If MIDL comes back trading why would you want to own warrants? The historical trading of this stock clearly shows the short term traders and shorts are using the warrants as an aribitrage vessel against the common. When it does come back it will have been gone through so diliberately by NASD and the SEC that I would assume anyone wanting to reverse merge into this shell would want to take out the infamous arbitrage. Heck, I would. The Ps are pass the conversion date of October so I really do not expect them to come back trading. The filings have already calculated the conversion which is 42.5 to 1 P ... So I do expect the Ps never to trade again. Since warrants do not have voting rights nor any other valid scenario other than being exercised which to date has been proven it is NOT going to be done. I do not understand why you would want warrants? You realize that warrants can have the exercise price changed? Historically any warrants that are exerciseable below $5.00 are a killer to the stock. They actually prevent a stock from holding a price to get off this ridiculous OTC market to the small caps at least. When the exercise price was dropped to .50 no one hardly exercised them. All the .50 did was make them a worse arbitrage vessel. Might want to really think about buying warrants. You could be buying a scenario that is very costly. JMO GB

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