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Microcap & Penny Stocks : 1ST MIRACLE GROUP (MVEE), founders last co. went $0.20-$46
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To: JeffO who wrote (4269)8/18/1999 3:00:00 PM
From: Telemarker  Read Replies (4) of 5541
 
Hi Jeff: I am long MVEE, and really don't like this merger at all.

MVEE APPEARS to have a lot of potential, APPARANTLY has recently raised a lot of equity capital (not unexpected given recent trading), and has no debt (per TC).

EINI has done nothing but loose money, is swimming in debt and would be contemplating bankruptcy now if not for Hadid coming to the rescue. Why did he do this? Was it because he couldn't figure out how to start his own web site?

So we now are looking at a merger between two companies which merger does not APPEAR to me to be an arms length transaction. Why was TC given a position with EINI before this was announced? I can't see what EINI is bringing to this marriage. MVEE could easily start its own website both to recruit talent and to promote its projects.

Sorry to say, but it looks to me like Hadid is getting a big bite of MVEE for a song. This after TC tells us that all of MVEE's current financing needs have been met. So, we are now left not just with 40% of what we thought we had 100% of (100MM outstanding vs. 250MM), but further we will now have to be content with 50% of the remainder AND foot the bill for EINI's debts. Give me a break, only in pennyland would someone have the balls to try and pull this off.

This looks really stinky to me. Before the increase in outstanding came out, I was willing to live with a smaller piece of what I deemed to be a really tasty pie. Well, I'm tasting something else right now, and smelling it too.

My guess: After the proxys come out, the big boys are going to have to litigate this merger to a conclusion if they can.

Can you or anyone out there put this in a different light for me?

Thanks in advance.
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