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Gold/Mining/Energy : EMR Microwave Technology (EMW.A)
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To: Richard A Martijn who wrote (282)8/23/1999 10:01:00 AM
From: BAKE  Read Replies (1) of 397
 
Can the company justify this latest action?

I know the company needs money but;
1)This private placement will dilute the stock by > 33 %.
2)6 million shares at .26 and 6 million warrants at .35.
3)What happened to Bateman's "significant investment"?
4)We keep hearing rumors of > $1 million dollars.
5)Is this private placement being done with Bateman? (I know the press release states that insiders are involved).
6)Whomever is on the receiving end of this private placement, is getting a bargain at "our" expense.
They get shares at 0.26 and the rest of us have to pay the market rate (0.30-0.40).Also they get the bonus of a warrant. Remember that it is 'our' (common shareholder) stock that is getting diluted by >33%.
7)I agree that it makes no sense for 1 shareholder to drive the stock price down (to teach management a lesson) and making it difficult to raise money for company operations.
8)With this announcement....What is stopping the same shareholder from becoming 'angry' and dumping the stock again? Afterall, his/her stock holdings were just diluted by >33%.
9)Could the company come up with another way to raise money,
without diluting by so much?
10)Is it 'legal' to dilute a stock by so much at 1 time?
11)shouldn't there be a shareholder vote before this placement is allowed to procede?
We are partial "OWNERS" of this company and should have a say in these matters.....if I am not mistaken.

Please comment/criticize/respond anyone.

Gary.
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