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Microcap & Penny Stocks : Biosafe International, Inc [BSFE]
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To: David Furtado who wrote (238)6/24/1997 9:36:00 PM
From: Doug Cohen   of 280
 
The news I'm hearing is that they successfully sold about $10 million of preferred stock, convertible to common at the average closing price for the five days prior to sale (which wld be around 1/4). Thus, they added 40 million new shares.

But this means that they have positive net worth and positive working capital.

That's good for the company.

I'll post something if I hear anything else in the next few days.
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