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Non-Tech : Aura Systems-Hot stock to watch now!
AURA 5.075-1.6%Jan 9 9:30 AM EST
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To: John Nobrega who wrote (13)6/5/1996 6:11:00 PM
From: Ted Levy   of 28
 
John: Thanks for the SEC info on Aura. I don't have any opinions on the outcome or stock price from here, but will be fascinated to see what happens.

My previous comments on candor by management may have some bearing on these new developments.

Regulation S is an SEC approved way of allowing U.S. companies to raise funds from foreign investors. It is particularly seductive for cash-starved young companies. Unfortunately, it allows shares to be sold overseas for any price. In practice this means discounts commonly up to 50% below the going price here. When the shares are then sold back into the market here (for a tidy profit at the considerably higher U.S. price), dilution caused by the additional shares in circulation eventually puts downward pressure on the stock price. And even more unfortunately, American scammers are setting up foreign fronts to take advantage of this regulation through a variety of shady means, many of which are never required to be reported in public documents.

Ted
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