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Microcap & Penny Stocks : MIDL .... A Real Sleeper
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To: H Peterson who wrote (5863)6/8/1999 11:57:00 PM
From: Whitetigr  Read Replies (3) of 7039
 
Enough crying about the possibility of the warrant price becoming 1.00 or anything more than .50 again. Guess what, it sure looks like the dividend is never going to be done on the P either. It sure wasn't in the last conversion rate in the filings. The warrant holders are not the only ones that got the shaft from DF. Plenty of us bought more P because of the dividend.

So what's the big difference? We are shareholders and we expected to be shareholders of more shares when we purchased the stock because we paid for stock upfront. Not the option to purchase stock.

The common must trade first before any company will come in. It will be dropped in price if the W's are allowed to trade. The filing was done to trade the common only so far. Leave it that way and let us have a vote to increase the authorized common to be able to have shares for conversions <P and W>. The .50 or 1.00 should go the same way of the P dividend or no dividend. Trading on these <P and W> would not matter since they would or could all then be converted anyway. Personally I would like to see the vote for the increase in common and the conversion of the P and a decision on the warrant price before we started trading again. If all that were to happen and only the common traded then there can be no arbatrage and all the short position goes to the common. The warrant holders can then exercise as the price moves since they only have about a year till expiration anyway.
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