Exclusive Cruises and Resorts (XCLU) Message Board

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Microcap & Penny Stocks : Exclusive Cruises and Resorts (XCLU)

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To: Angusb who wrote (607)	8/3/1999 11:28:00 PM
From: jhild	Read Replies (1) of 644

Careful here Angusb, Dr. Microcap, or Steven Trapp or whoever he is may not be telling the whole story. At last report I believe there were 1 million convertible preferred shares outstanding at a conversion rate of 10:1. I think this is what is buried in the financials at the S&P site. So figure that there are potentially 9 million more in equivalent common convertible on demand shares held under the control of George Macropolus the CEO, either directly or through his company Appolon Ltd. That potentially puts the market cap at north of $15M, though with the low demand for these shares as evidenced by today's pitiful volume, a $5M - $7M market cap is certainly likely much closer to the truth on the optimistic side were there to be any determined effort to cash out all of those shares.

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