INTERNATIONAL FIBERCOM, INC. (nasdaq - IFCI) Message Board

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Microcap & Penny Stocks : INTERNATIONAL FIBERCOM, INC. (nasdaq - IFCI)

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To: Janice Shell who wrote (2329)	10/12/1997 3:50:00 PM
From: Amigo Mike	of 2486

Doesn't anyone read the filings for Fibercom ???? The dilution has already started and IFCI hasn't really made much mention of it. There are now almost 9 million shares outstanding !! The holders of the Convertible "A" shares have already converted in JULY for 2.1+ million common shares. All have been converted. 10/11 - the convertible debenture for $1.5 million can be converted at $1.25 per share. That will be another ~1.2 million shares. Livikias has options to buy 1.9+ million shares at prices around $1 (can't remember exactly but I know it is way down there) at the beginning of 1998. This was a $100,000 job according to IFCI. Livikias would stand to reap ~$12+ million for a $100K marketing job. I suspect IFCI wants to redeem the public warrants by December. That another 1 million+ shares. The company officers have issued themselves about 1 million options from $.93 to $1.43 that are excerciseable. Add it up folks. How many of you knew the conversion of preferred had already taken place ?? IFCI has done one thing good though. They didn't do the fourth issuance of Preferred B shares for $1.1 million. Saved a few shares. The "B" shares are convertible at prices ranging from $1.43 to $2.03. Approx 2+ million more for conversion. I think people should take notice that the work backlog isn't really shooting higher, contract announcements have disappeared (this was supposed to be the big quarter) and more dilution likely to follow with new acquisition of the unnamed private company. Mike PS No I am not short ... been here since March and made plenty of cash in IFCI. IMO IFCI is overextended at this time but there are market forces that obviously don't think so. AS for the hopes IFCI is going to $25 ..... maybe in 2 or 3 years.

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