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Microcap & Penny Stocks : ECNC (OTC:BB) - eConnect
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To: SCOOBEY-DO who wrote (2867)10/15/1999 9:37:00 AM
From: Jorjenzak  Read Replies (2) of 18222
 
Seems to me I recall seeing the details in the blurb about this deal in the last filing. Basically I recall they get the stock for 80% of the average of trades for a period of time before ECNC tells them we have a chunk of stock to sell them. ECNC controls WHEN it will sell to the venture capital firm and how much. The only real obligation ECNC has is to sell at least $1M worth within 12 months of the agreement. Check out the formula in the filing.....I am not a numbers guy and not up to trying to explain it.
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