Intl. Absorbents (IABS, formerly IABSF) Message Board

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Microcap & Penny Stocks : Intl. Absorbents (IABS, formerly IABSF)

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To: arizona_ice_tea who wrote (108)	7/17/1997 2:20:00 AM
From: Russel W. Kennel	of 206

A year ago the company issued convertible debentures, that are now being converted and dumped into the market. And it cannot be known how much dilution will result. Now we know this after the fact. When I first invested, I was told by bulletin that financing is being done with bank line of credit. Now we get blind-sided with the convertible debenture deal! So guess who is really paying off the debt of the company. It's you and me, my friend! And we didn't know how much it would cost until now, and we still don't really know. For me, so far it is 2/3's of my invested dollars, and still counting! The debenture holders get ALL of their money, and we lose nearly all of ours to them! It seems to me that for all the SEC supposedly does, they sure are asleep at the switch when it really counts. If they would just pass some rules on this one point requiring full and continuous and advance disclosure they could forget about most everything else. This is the one area where I have seen the most loss on the part of investors. Russ

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