Applied Cellular Technology (ACTC) Message Board

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Technology Stocks : Applied Cellular Technology (ACTC)

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To: TobaccoMan who wrote (82)	7/17/1997 8:48:00 PM
From: pascal ho	of 1062

Applied Cellular retires preferred stock NIXA, Mo., July 15 (Reuter) - Applied Cellular Technology Inc said Tuesday it has completed the retirement of $4.8 million in preferred redeemable shares and 480,000 warrants to purchase common shares. According to the transaction, Applied Cellular will issue 650,000 shares of restricted common stock (with a transaction value of $7.38 per share) to a co-founder of ATI Communications. ATI is Applied Cellular's largest subsidiary with projected 1997 sales of over $30 million. Applied Cellular had issued the preferred redeemable shares and warrants in the September 1996 acquisition of ATI, which provides telephone and telecommunications systems and services. In a news release, Applied Cellular also repeated that it expects 1997 earnings of $0.30 a share based on about 7.4 million shares outstanding, up from the $0.19 a share reported in 1996 based on about 3.3 million shares outstanding. Sales are estimated at about $79 million, up from about $20 million reported in 1996

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