IMGX, currently $3.50 Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : IMGX, currently $3.50

IMGX 0.0001000

0.0%

Oct 28 5:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: George Young who wrote (537)	12/9/1997 8:57:00 PM
From: Jay Morrison	of 665

George, Most of this is old news that I have known for a while. I can fill in a few gaps that seem up in the air. My information is nothing but rumors, but it fits with much of this article. I did learn a few things. <<Network Imaging Corp. was given an ultimatum by the Nasdaq National Market a month ago - get into compliance with the market's standards by year's end or be delisted.>> That is not an issue. They just got money from Zanett Capital for reaching goals. The stock will not be delisted. <<According to sources, the company came up with a resolution for those stockholders the week of Nov. 17. The resolution has not been announced yet, but will likely require approval by other shareholders.>> It is already a done deal. It was release in a filing last week. The preferred stock will be converted and the ratio will depend on the average stock price for 20 days after Dec 31, 1997. The minimum is 8 million shares and the maximum is 15 million shares. Holders cannot be force converted till the end of 1998. The least amount of dilution occurs if the average price of the stock is over $1.75 for the 20 days. The worst dilution occurs if the stock stays low and nobody converts. They still get stock dividends for a year. Leto already has enough votes to approve this plan. (to be continued....)

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next