Colossal Resources - CLPZF - Colbalt in Zambia Message Board

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Gold/Mining/Energy : Colossal Resources - CLPZF - Colbalt in Zambia

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To: Wink who wrote (424)	12/10/1997 3:29:00 PM
From: Wink	Read Replies (1) of 501

I just checked on NASDAQ's new requirements for staying listed. - Stock price of $1.00 (I beleive that once it goes below $1.00 for 30 days, they have another 30 days to get it above a $1.00, but this stock is already late) - Assets of $4M (OK) - Public shares of 750,000 (OK) - Share value of $5M (I believe there to be about 7M shares at $0.50) - 400 shareholders (?) - Market markers needed is 2 (?) Looking at the financials dated 3/31/97 we see that part of a deal on 1/31/97 was for shares valued at $835,000 (about 167,000 shares at $5). This came with a guaranteed value of $1.25M by 1/31/98. If shares stay at $0.50, this means the CLPZF needs to make up $1,166,500!!!! I don't know if they have any kind of insurance for this, but supposedly they had obtained something to guarantee this. Now does this mean that this Company is on the way out? I don't believe they have that kind of cash on hand, but they supposedly have $12M or better in assets! May be time to sell off and lick my wounds on this one. Comments please. ;>) Just in:WSRN shows 11 institutions holding 18.8% of shares. Dil holds 12.9%. Looks like we aren't alone on this one.

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