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Microcap & Penny Stocks : MIDL .... A Real Sleeper
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To: RavMan who wrote (727)1/27/1998 7:35:00 PM
From: S Press  Read Replies (2) of 7039
 
Rav,

I think you have it a little backwards here. The last line of your post:

.5*35 is 17.50 not $1.75.

As I understand it (and I could easily be wrong) MIDLP is a break evn right now if it sold at $17.50 because when converted 17.50/35 =.50 the cost per share today.

If you bought MIDLP today at $6 then your ASMC is @ .17 not .33

In other words, you'd be getting a .50c stock for only .17c

I'm not entirely clear on what exactly happens in October though as far as the mechanics of the exchange go. Does MIDLP cease to exist on 10/98? is the account credited with 35 shares of MIDL for every 1 share of MIDLP that was owned? Anybody?

Thanks,

S Press
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