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Microcap & Penny Stocks : Exclusive Cruises and Resorts (XCLU)
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To: Jeffrey S. Mitchell who wrote (615)8/4/1999 5:13:00 PM
From: jhild  Read Replies (1) of 644
 
Unfortunately that number still cannot be taking into account the 1 million preferred shares that can turn into 10 million common. Nor would the TA know anything about a 504 PPM before it was completed. So prudence would suggest using a 16.7 million number at a minimum as the fully diluted number.

Note that last year only 5.5 million common and the 1 million 10:1 convertible preferred were listed as issued. Now there are 7.7 million shares out. Someone has issued 1.2 million shares. I wonder who got those shares and what consideration was received by the company. They surely haven't paid for this level of IR with that many shares. If they have, they should ask for a refund.
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