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Microcap & Penny Stocks : 1ST MIRACLE GROUP (MVEE), founders last co. went $0.20-$46
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To: Walter Morton who wrote (4086)8/9/1999 5:52:00 PM
From: Stephen Goldfarb  Read Replies (2) of 5541
 
Walter: The 12 shares of MVEE for 1 of EINI is effectively a reverse split. The last time I looked, EINI had roughly 10 million outstanding shares (2 million preferred, 8 million common. See their web site for details). Though it was not directly disclosed in the news release, I assume EINI will issue an additional 9-10 million EINI shares to acquire MVEE. As the news release states, EINI shareholders and MVEE shareholders will each hold approximately 50% of the company. At present, there are a reported 109 million outstanding shares of MVEE. Assuming that this scenario is accurate, there will remain approximately 19-20 million outstanding shares.

Steve
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