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Microcap & Penny Stocks : Isonics Corp. ISON
ISON 0.00010000.0%Nov 5 4:00 PM EST
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To: golfnvester who wrote (904)12/12/1999 9:45:00 PM
From: golfnvester   of 1099
 
The transaction, which will be accounted for as an asset purchase and sale, consists of $6.7 million cash at closing and contingent cash payments of $500,000 per year for three years. Additionally, Eagle-Picher has negotiated a 42-month warrant to purchase 4 million Isonics common shares at $3.75 per share in exchange for supplying Isonics with 200 kilograms of isotopically pure silicon-28 in 2000. No further details were disclosed.

after closely rading the above paragraph, i don't know that i would come to your conclusion. what E-P has is a stock option...which is currently under water and only has value as ISON stock price exceeds $3.75/share. what's more interesting is the fact that ISON only has 6.1MM shares total, so the warrants for 4MM shares is 2/3 of the company, which would instantly make ISON a closely held company of E-P. unless ISON was planning on issuing more shares...which i doubt. with a float of only 100K share i'm interested in what this is all about. its almost as if E-P wants to be an owner of this business, but doesn't necessarily want the numbers on its balance sheet right now. if ISON technology works out, it will certainly be worth more than 3.75/share and so EP will exercise the warrants...hmmmm. a lot more than a little ole mech engr like me knows about.
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