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Biotech / Medical : Medical Industries Of America, MIOA
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To: Jones who wrote (174)5/29/1997 9:04:00 PM
From: TopCat   of 570
 
Jones,

I don't think it is as bad as you make it sound. First of all, they are seeking approval to increase the authorized number of shares to 60 million. The shares do not become outstanding until they use them for something......like acquisitions (as stated in the 14a). If they make good acquisition decisions (a big IF, I realize), then earnings should increase proportionally. If they don't make good decisions, then we have a problem. :-)

However, until they convert the shares from "authorized" to "outstanding" the EPS calculation will not change because it is based on the number of shares outstanding not the number of shares authorized. In other words, there is no dilution just by the increase in authorized shares.

Here's hoping that they do good things with those new shares.

TC
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