Where is United Ventures Headed ( UVGI) ???? Message Board

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Microcap & Penny Stocks : Where is United Ventures Headed ( UVGI) ????

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To: Maxwin Flindt who wrote (77)	1/5/2000 9:12:00 AM
From: Richard Mazzarella	Read Replies (1) of 166

Max, thanks for posting. I now see the problem with this stock and the volume lately: <<In addition, outstanding convertible debentures are exercisable by its holders to purchase shares of common stock at lower of (i) $2.32per share or (ii) 70% of the lowest bid price for the 30 day period preceding the conversion.>> There was/is a floorless conversion debenture occurring. The value is $1.3MM for the convertible. ~$1MM has already been converted. With all the volume, is this conversion now over? Maybe not. The low bid was ~$0.10 last month. Therefore there could be ~ 5MM more shares converted before the end of this month, but then it's over. Maybe it already is (based on the large volume over the last few days)? How may shares have now been issued? Someone on this board posted that the IR didn't know where all the volume was coming from. IMO he should be fired! Anyone have any other thoughts about this?

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