Jerome,
We're on the same team! There are usually many different approaches to solving the same problem. You have your approach, I have mine. All that matters is that we both try to remember that our goal is the same: to watch our investments grow in AGTI.
I just picked up something really interesting from one of my internet buddies. He was telling me about a great short squeeze shaping up for PKGP, opportunity to make good money on a short term basis. But I see a possible connection to AGTI. Here's a recent press release, original except for the bold highlights added by me:
Thursday January 22, 11:00 am Eastern Time
Company Press Release
SOURCE: Packaging Plus Services, Inc.
Packaging Plus to Challenge Debenture Conversions
PLAINVIEW, N.Y., Jan. 22 /PRNewswire/ -- Packaging Plus Services, Inc. (OTC Bulletin Board: PKGP - news) announced today that it has received numerous inquiries from shareholders requesting elaboration of its press release dated January 16, 1998 regarding its suspension of the conversion of previously issued debentures.
During the summer of 1997, Packaging Plus Services, Inc. (''PKGP'') issued debentures to several offshore investors pursuant to Regulation S under the Securities Act of 1933, as amended, through Select Capital Advisors, a Miami based funding company. PKGP has since terminated its relationship with Select whose Chairman is currently being prosecuted by the State of Florida, for fraud, grand theft and racketeering.
The debentures converted into common shares of PKGP, on defined terms, or alternately, at PKGP's discretion, can be fully redeemed by the company in cash with an interest premium.
The company has reason to believe that several of the debenture holders have breached the terms of the debentures and accordingly, has suspended all conversions. To date, the company has received requests to issue shares in respect of conversions substantially in excess of its outstanding shares.
The company intends to vigorously enforce its rights under the financing and debenture agreement and is currently contemplating, if necessary, obtaining new financing to redeem the debentures.
PKGP is an integrated specialty business services Company. It owns and operates APAC, a nationwide, association of independent postal centers. The association provides access to business services and logistically convenient and cost effective delivery of goods worldwide. PKGP's other subsidiaries are engaged in advertising, logistical services, franchising and concierge services.
SOURCE: Packaging Plus Services, Inc.
So that's it. Weren't most of the AGTI Reg S deals through Select Capital? If so, then we may also see a great short squeeze coming up, with Select's chairman in deep dookey. This story just keeps on getting better!
Hardrocker |
