CMTR-CHEMTRAK FDA OK Message Board

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Biotech / Medical : CMTR-CHEMTRAK FDA OK

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To: DeadHead who wrote (786)	6/7/1997 2:38:00 AM
From: Art Baer	of 1172

HOLY TOLEDO---- Did anyone catch this on Edgar. It seems Chemtrak is letting the stockholders vote on a share issuance that will incredibly dilute us. They are issuing 70,000 preferred shares at a price of $100 dollars a share. This would raise about 7,000,000 minus commisions to placement agents. It is convertable at 80% of market value. In other words it seems that we are getting diluted by close to 70%. Is this right? The link is below. I will still vote for this because I trust management and we need cash. But this is alot of dillusion. sec.gov Art

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