Medical Industries Of America, MIOA Message Board

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Biotech / Medical : Medical Industries Of America, MIOA

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To: Tadsamillionaire who wrote (182)	6/6/1997 7:06:00 PM
From: Jones	of 570

<<< My main concern was why we settled with the short sellers. Her answer was that by settling we were able to stop them from driving the stock down further and forced the shorts to register all there shares with Bear Sterns to cover their positions.>> True, but excellent stock movement will always force the shorts to cover their positions. There is still a short position in the stock but not as much as befor and not by this group or its members. The daily volume justifies this (excluding today's firesale) I really wonder when this stock is going to get out of this rut. I wonder if we missed the boat on something. In regards to the .26 cents earnings - This number is somewhat inflated. First of all, these earnings account for the 1.5 million shares. Now, there are 4.5 million with at least 8 million more to be issued. Second, earnings were only $350,000. This is penny change compared to the 18 million dollar debt that lies within this company. Almost all of these earnings are good hard cash (mainly from the large success of FPII.) Only a small portion of earnings came from the selling of equipment. Long on MIOA, but on my toes.

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