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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.
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To: Taki who wrote (114277)5/2/2003 2:25:14 PM
From: Taki  Read Replies (1) of 150070
 
QTEK on this past PR..25 per share?I guess some have confidence?Will see what happens.
The company also announced that current employees and previous management have
agreed to convert all of their existing debt and back salaries into Series A
Preferred Stock at twenty five cents a share ($0.25). The Series A Preferred
Stock will have a liquidation preference over common stock and the same voting
rights as common stock. These shares may become convertible into common stock at
a later date on a one for one basis, pending the authorization of more shares.
Management debt and back salaries had accounted for roughly 29% of all the
outstanding debt of Quintek Technologies, Inc.
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