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Microcap & Penny Stocks : OILEX (OLEX)
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To: jamess who wrote (2227)1/3/1998 11:16:00 AM
From: Ditchdigger  Read Replies (1) of 4276
 
James,excellent description of how Reg S bandits,short againest the block. And if they can drive it to zero,they in turn keep the account open and pay no taxes-it is a very cut throat game.IMO the saving grace here is the 50m authorized share cap-that is the maximun dilution,barring the authorizing of more shares[which requires a change to the original charter,generally with a shareholder vote]..DD
PS: one last observation,where there is Reg S,there always seems to be a "promoter" receiving ,free,unrestricted stock( in this case 1.7m shares-what are they doing for these shares? Who is the promoter?)
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