1ST MIRACLE GROUP (MVEE), founders last co. went $0.20-$46 Message Board

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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 (4110)	8/10/1999 7:13:00 PM
From: Stephen Goldfarb	Read Replies (1) of 5541

Walter: It is common practice to issue new shares in order to acquire an asset. Issuing new shares is dilution of the existing stock. The offset is that the acquisition presumably adds value to the company. The last word from Entertainment Internet is that they presently know no more than the information in the news release. A further release is to be issued. I understand this is to clarify details of the first release. Since Hadid took over EINI, the capital structure has changed. Therefore, the figures of outstanding shares posted in the company's 1998 financials are no longer valid. The figures in the June 29 Wall Street Research report (about 13 or so million shares) is probably invalid as well. As of this morning, Tracy at Rubenstein Investor Relations, was still reporting that 109 million shares of MVEE were outstanding. However, there is now a lot of ambiguity about that figure. It is another issue that needs clarification by the company. It is still an open question whether MVEE shareholders are getting fair value in this merger. Steve

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