SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Microcap & Penny Stocks : IMMM ( I'm Mad Monk)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Sidney Reilly who wrote (1317)7/6/1997 11:41:00 AM
From: Theo   of 1480
 
Bob,
I was looking over the previous press releases [I only saved them from February] and found the February release:

"International Marketing Management, Inc.
(OTC Bulletin Board: IMMM) announced completion of a US$1,250,000 financing which will be used for working capital and to drill the Company's first farm in property which will further test the Company's EM Sounder identification and location process".

And then I reread the July 3rd release:

"Ebeling said the company has received more than $1.25 million of a $5 million private placement commitment through First Sydney Capital Limited, Sydney Australia".

The February release doesn't state where that particular financing comes from. Perhaps stated in a previous release? Is this the *same* money, or, is First Sydney an *additional* cash cow?

The February release goes on to state:

"The financing has been provided to the Company on a 12-month basis at 7% interest convertible to shares at $1.50 per share together with warrant entitlements at $1.50 and $2.50 per share. The warrant entitlements if fully exercised will provide a further US$3.3 million in working capital to the Company".

I take it this mean the "loan" is being backed by a 7% accruing interest bonds that can be paid off by exercising the warrants for shares at any time in the next 12 months. If First Sydney is the same financier mentioned in the February release as in July's, then it seems to me that First Sydney MUST have some sort on inkling as to the validity of EM-SOUNDER to accept $1.50/$2.50 warrants for shares that are currently barely holding a dime!? Am I off base some where? Your thoughts?
Theo
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News