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Microcap & Penny Stocks : OILEX (OLEX)
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To: edward shapiro who wrote (2480)1/13/1998 1:21:00 PM
From: Prudent Investor  Read Replies (1) of 4276
 
Ed, you are right. The amended S8 does say that the offering is concluded. If that is in fact the case, then the number of shares that would be converted on the basis of the present price is approximately 5,982,900. That still exceeds the number of authorized shares by approximately 468,000. All of this assumes that the powers at Oilex are going to resist the temptation to go to the well again with more convertible debentures. After all, it has worked more than once, why not keep doing it? Of course, maybe the "Holder" of the convertible debentures does not have any intention of converting. Maybe they will be happy with a 12% return on their money. Maybe pigs will fly, too.
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