MIDL .... A Real Sleeper Message Board

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

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To: Ga Bard who wrote (5820)	6/8/1999 2:42:00 PM
From: Binder	Read Replies (2) of 7039

Wasn't there some question as to the "legality" (probably not the best choice of word) of reducing the strike price to .50 in the first place? If the reduction to .50 was done by Fisher, and if Fisher never had the authority to do that because the merger was never completed nor consumated, then how could the .50 strike price even be an issue at this time? If Fisher never had the legal right or authority to make these changes in the stock structure, any changes he made should be nullified. (including the dividend to the P holders) No one should be able to partially select from the list of changes Dan made which ones will stick and which ones go out the window. I would think at best, it would remain at $1.00 (best for the warrant holders anyway), the conversion rate for the P would remain at 35:1, and everything would revert to its "pre-Fisher" state. It should be all or nothing. Just my opinion, Binder

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