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Microcap & Penny Stocks : Saflink Corp. (ESAF) Biometric Software Provider
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To: art slott who wrote (2471)12/5/1997 10:23:00 AM
From: GoingHikin  Read Replies (1) of 4676
 
Art,
The $980,000 payment is not a payment. It is a charge against common stock earnings per share. It's an accounting practice for tax purposes that tracks the evaluates the difference between the conversion price for prefered stock and the market price of the common shares their being converted into. Essentially, somone was able to convert their preferred stock into common stock at lower than market value and made an instant profit on paper.

How exactly NRID calculated this is a good question!! Someone should pose this question to them.

And by the way. I told everybody to buy big on Wednesday. I'd just like to rub that in!!

Thanks,
David
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