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Microcap & Penny Stocks : IMDS nasdaq bulletin board
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To: tonto who wrote (3798)10/13/1999 8:56:00 AM
From: gao seng  Read Replies (2) of 4122
 
IMDS obtained approval to issue 40,000,000 new shares in July of this year because some of the preferred shareholders wished to convert their preferred stock into common stock. The selling shareholders are them selling their common stock as fast as the market will allow. So at about a half million shares a day, it looks like two more months before the selling pressure begins to reverse.
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