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Microcap & Penny Stocks : MIDL .... A Real Sleeper
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To: Ga Bard who wrote (35)9/20/1997 6:51:00 PM
From: David L. Wasylenko   of 7039
 
from the 10KSB:
====================================

The Series A Preferred stock will automatically convert into
thirty-five shares of Common Stock on October 1, 1998. If the
Company fails to have $300,000 of pre-tax earnings for the twelve
months ended June 30, 1997, exclusive of extraordinary and
non-recurring items and, upon such failure, the Common Stock does
not trade for at least $2.50 for ten days between June 30, 1997,
and August 15, 1997, then the Company will declare a dividend on
each share of Series A Preferred Stock of one-tenth share of
Series A Preferred Stock and five Series A Warrants.
=====================================
What impact could/would the dividend have on the stock?

... curious ...
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