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Microcap & Penny Stocks : Socket Communications (SCKT)
SCKT 1.270+2.4%Dec 2 3:59 PM EST
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To: RikRichter who wrote (64)6/22/1999 9:59:00 PM
From: Wesley Davis   of 932
 
Elliot, good catch. The site I rely on for warrant info had it wrong. The original E price was 8.40, but has been reduced to 2.06 as you note. My apologies for the misinformation. Here is a quote from the co. 10k on the dilution adjustment:

"The common warrants expiring in June 2000 are subject to certain
dilution adjustments resulting from the subsequent issuance of common
stock or securities converting into common stock at prices below the
initial offering price for the Company's common stock. At December 31,
1998, the effects of the dilution adjustments relating to these warrants
were to increase the number of shares exercisable from 550,275 shares to
2,248,058 shares and from 150,000 to 612,800 and to correspondingly
reduce the exercise price of these warrants from $8.40 per share to
$2.06 per share."
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