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Microcap & Penny Stocks : ICCN (Integrated Carbonics Corporation)
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To: Dusty who wrote (40)1/9/1998 9:28:00 PM
From: FARRIS  Read Replies (1) of 193
 
They just started about three weeks ago, so no they have not filed much if anything. They will, I am positive -- they need this vehicle to finance and the pink sheets do not attract much cash.
The float should be 100,000 at this time. Prior to all the changes there was 25 million issued, 15 million of which was restricted and closely held by the old management. The other 10 million was in the float. After the 100:1 reverse we had 100,000 in the float. The other 150,000 could be in the float now, but the volume suggests otherwise.
They are raising the bid on selling and have been ever since the reverse. They have no shares and buying will send this one up quick -- problem is... for how long? Shares could start finding their way to the market at any time.
This is a gutsy play no matter how you slice it. I got burned bad on the reverse -- but objectively, the stock looks good now over the long-term. (2 years, my guess)
If you want history, go read the PLRN thread -- lots of it there. Start about three months ago and work forward. You will see me bad-mouthing the new company. I still mean everything I said, but the bottom line is clear -- for new investors this is probably a great opportunity if you are willing to hold for a while. THese guys know what they are doing whether they care about the shareholders or not. Money equals moving up to the AMEX or the NASDAQ and a much higher share price whether management cares about it or not.
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