IMMM ( I'm Mad Monk) Message Board

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Microcap & Penny Stocks : IMMM ( I'm Mad Monk)

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To: Theo who wrote (1325)	7/6/1997 10:58:00 PM
From: Sidney Reilly	of 1480

Theo, The conversion of the warrants will only happen if the stock is worth more than the conversion price for the warrants. The lender would then exercise the warrant at 1.50 or 2.50 and sell at market. Instant profit. The warrants are sugar for the lender and the company if the stock goes up and seperate from the conversion for paying back the loan. The details of that conversion are very lacking and the 1.50 stated as the conversion price is put out there alone without the usual details that are involved in deals like that. Another example of us being kept in the dark! I agree that the lender believes the company will succeed, they would not loan to someone with no potential or a company without a solid business plan. NAMX must *IN MY OPINION* have something to show to keep getting this money. A few successful wells will launch us into the stratosphere. But the risk is also real here!! Bob (-:

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