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Microcap & Penny Stocks : MIDL .... A Real Sleeper
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To: C. Riley who wrote (458)11/19/1997 6:54:00 PM
From: Ga Bard  Read Replies (2) of 7039
 
That is incorrect. Total dilute is 13.6 Total Dilution. according to the company

1.2 M Float
1.8 M insiders
2.94 M Class A (84K Converted x 35)
10.5 M IF Converted B 70K x 150 with restriction)
-----------------------------------
16.4 M IF you want the total outstanding should the B be converted and ALL conversions are put into the market trading. Now that would be totally absurd.

You can do this anyway you want but the company is stating 13.6 M fully diluted because of all the restrictions.

ALl of this is IF the B, and the company has stated the B is not even an option, is the conversion nor an issue.

This is a mute point because the company will have to file to sell it as insiders and even then it is more than a year from now.
The bottomline is 6M issued in OCT 1998 with maybe 3 million in the float because the A is owned by insiders also. Of course I own a the A too and the warrants. But I do not believe the B is considered by the SEC. I will check on that tomorrow.

GB
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