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Gold/Mining/Energy : American International Petroleum Corp
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To: MARIO PASQUA who wrote (5331)11/25/1997 7:29:00 AM
From: BWnDallas  Read Replies (1) of 11888
 
Note that the warrants are callable as follows:

"provided that the AVERAGE clsoing price of the Company's Common Stock shall have been at least $8.00 per share (200% of the exercise price of the Class A Warrants) for the 20 consecutive trading days..."

That word average is very significant. You cannot just count the number of days the stock closes above 8. Its the 20 trading day average that is sufficient. Take a look at MVSI for a recent example of how all this warrant stuff plays out.

It seems to me that the recent registration is a clear signal that the company believes that the average price will likely go above the $8 figure soon and prior to the warrant expiration next March. This is very good news all around. The funds from the warrants (and just the prospect of the funds) will then allow AIPN to get an even better deal with a partner and hold out longer if need be.

BW
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