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.
Technology Stocks : Verified Perscriptions System ETCR
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: DaiTN who wrote (12)4/8/2002 2:53:58 PM
From: uthabros  Read Replies (1) of 397
 
From what I understand at the moment there are 99mil shares authorized and 28 mil outstanding 8mil of which I believe were dished out at 2 4mil intervals. I got the preferred shares as a dividend last July. My ameritrade account recieved notice of the dividend and it showed in my account. They confirmed to ETCR that I owned shares as of their div date and shortly after I recieved the cert that says I have 37 preferred shares. The price at the time of the div. was aroun .28 or so. I believe it was to , of course, "do something for their shareholders" but also to keep investors from selling the shares they owned for a year, maybe to keep the price up? But, without any news the price slowly went to the .02's with one or 2 mini runs to .07 or so. The interesting catch here is that in order to convert your preferred shares into $500 of common shares you must own 500 common shares for each preferred share you want to convert.Since most most investors sold their original shares as the price came down figuring they would be able to buy them back later if everything panned at a cheaper price and now this "news came out alot of them are now trying to buy back and with the low float and news buyers coming in they are having a hard time waiting for a pullback and the price keeps moving forward. Nice game goin on here. I'll have to look but I think to convert them I have to send the request to ameritrade and they will do it. As far as dilution I don't know how many perferred shares were given out and who knows how many will actually be able to and who has moved on to other stocks. It will still be a low float. Hope that helps. ;>)))!!!
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