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Microcap & Penny Stocks : INTERNATIONAL FIBERCOM, INC. (nasdaq - IFCI)
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To: Sergio H who wrote (824)4/23/1997 10:28:00 PM
From: Amigo Mike   of 2486
 
Ok all, lets set some things straight. Been doing a little more digging into IFCI and making a few calls. Here is the latest and greatest:

1. Mr Kugler raised the question of the percentage rate on the Series B Preferred being issued. The Answer is: There were some errors in the filings that will be corrected in a new filing very shortly.

2. Mr Kugler also raised the question of a .75 maximum conversion price on the Series B Preferred. This also was an error. .75 is the FLOOR for conversion and NOT THE CEILING. Will be corrected in the new filings.

3. The Series B are apparently being sold to the same Austrian Bank that provided previous financing for IFCI so they can complete the acquisition of Concepts. The issuance of these shares are a short term financing package until IFCI can arrange regular debt financing here in the US. The Bank does not want to own any more shares of IFCI. Apparently, conversion of the preferred into common is not part of the plan but to be safe I will stick with a 10 million share figure for year end.

4. Livikias is not an issue until NEXT YEAR.

5. Earnings should be between .03 - .06 for the first quarter. The first quarter is the slowest of the year. Earnings momentum will build during the 2nd and 3rd quarters.

6. Look for more contract announcements for both operating divisions in the coming weeks. I think we will also see Concepts' first activity in Phoenix shortly thereafter. Interestingly enough, the new Phoenix office can't get a phone number from US West. They are on a delay list but are still visiting prospective clients and working on establishing accounts. Funny, they do work for US West and can't even get a phone number assigned to them quick.

7. I estimate, let me emphasize, ESTIMATE, that insiders own a little less than one million shares.

8. IMHO, the short interest reported is not so. Short covering results in a higher share price as those individuals must buy shares to cover their short position. I do however believe it is highly possible that the ask was lowered for a MM customer to purchase a sizeable position today. I think Sol posted the trades and it appears that this is the case.

That's it for today. Did I cover it all ? Anyone who has participated in the share tally for the board can email me for the latest numbers.

By the way, IR reads this board.
Mike
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