Our good friend IS does his homework in GMGC. This is an accident waiting to happen.
To: DavidD (12560 )
From: InfoStream.com ( Ignore ) Sunday, Jan 16 2000 7:57PM ET
Reply # of 12575
One question on GMGC...
Are you not embarrassed by the no of shares out, quite thin financials and convertibles in GMGC?
I concede, the stock made a nice turnaround since the (perhaps tax loss selling related) October lows, but the high volume doesn't tell us anything?
The S-3 lists around 95 Million issued or issuable shares.
As of December 10, 1999, the Company's capital stock consisted of
100,000,000 shares of common stock, 41,927,616 of which were issued and
outstanding and 39,091,874 of which were issuable and reserved for issuance
pursuant to securities convertible into or exercisable for shares of our common
stock. An additional 15,767,127 shares were reserved pursuant to provisions of
agreements governing issuance of our Series D and Series F preferred stock and
those governing warrants issued in connection with the Series B, Series C and
Series D preferred stock transactions that require us to reserve a multiple of
the shares of common stock issuable upon conversion of the preferred stock or
exercise of the warrants.
That gives a Market Capitalisation of around 720MM at the Friday closing.
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