Intl. Absorbents (IABS, formerly IABSF) Message Board

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Microcap & Penny Stocks : Intl. Absorbents (IABS, formerly IABSF)

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To: Russel W. Kennel who wrote (75)	5/4/1997 7:38:00 AM
From: arizona_ice_tea	of 206

Bad surprise by NASDAQ NASDAQ's action was really a very bad surprise for IABSF. Everybody at the company is shocked. The irony of the whole situation is that the delisting came right before details about the Fiji deal were disclosed. I was able to speak to Chuck Tait (IABSF) after the announcement of the Fiji deal. It seems like the whole deal is very complicated. It should have affected the balance sheet in a very positive way. Mr. Tait further told me that Fiji is the perfect place for IABSF's production because of the following reasons: - Low material costs - Very very low production costs - Fiji should be the perfect place to distribute IABSF prodcuts to Australia, New Zealand and Asia. The whole Fiji deal might be in danger now because of NASDAQ's action. IABSF signed a letter of intent but I don't know how the delisting is going to affect the deal. I hope that IABSF's management will be able to find a way out of this disaster created by NASDAQ. I understand that NASDAQ has their regulations and I think that's OK so, but I don't understand why they delisted IABSF right now. Mr. Tait also told me that IABSF anticiapted that the Fiji deal should have created a book value per share fare above the current stock price. Now IABSF has to deal with all the prejudices being BB-listed and maybe being forced to make a reverse split. The important thing for me is that IABSF business is running better than ever before. The company expects to be profitable in the next quarter. I personally think that a reverse split shouldn't be too bad when a company makes earnings. I don't know what is going to happen to the stock price in the next days. I know it's easy to say but we shouln't start a panic and selling all the shares. I might even buy more shares at low levels because I think that the company is not going to disappear. Good luck to everybody Michael

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