ADTCZZZZZZZZZZZZZZZZ
Jerry,
The ADTCZ chart and trading pattern do not look healthy. There has been little movement to the upside even as the underlying stock gains. The warrants do not appear to offer much potential as I understand the situation. Take a look at the excerpt below from the most recent 10-K filed by ADTC.
sec.gov
As of December 31, 1995 the Company had 1,150,000 redeemable common stock purchase warrants (The "IPO Warrants") outstanding. Two IPO warrants entitled the holder to purchase one share of common stock at $7.00 per share. In 1995, the exercise price of the IPO Warrants was reduced to $5.00 per share. In May 1996, the Company commenced a special exercise period during which each IPO Warrant entitled the holder to purchase one share of common stock and to receive one additional warrant (The "Class B Warrants") at no additional cost. The Company received approximately $4,738,000 in net proceeds during the special exercise period which ended in July 1996. As of December 31, 1996 the Company had 132,084 IPO Warrants outstanding. Each IPO Warrant is exercisable at $5.00 per share and expires on March 8, 1997. Also as of December 31, 1996, the Company had 1,044,425 Class B Warrants outstanding. Each Class B Warrant entitles the holder to one share of common stock at $5.00 per share and expires on May 12, 1998.
Regards,
Tom |
