Here is what I know so far on the share count, floats and restrictions that to my knowledge is current to date. .
Here are the totals for calculating fully diluted shares from the 8-K plus the last transaction for Arcon minus the returned shares of New Departure:
:
2,575,217 Common ( 1.6M insiders / 975,217 Free trading. )
4,108,860 Dilution from Series A ( 117,396 ) 54K in MILDP Float
22,350,000 Dilution from Series B ( 149,000 issued to date )
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29,034,077 fully diluted common shares as of today
MIDLP = preferred 'A' the other 63,396 are held by the company which are restricted for another year and 6 months before be able to convert. These stock maybe what the company uses to get additional funding for what they need for the expansion of the sights and what not. Heck they are doing no one any good sitting on the company shelf.
The 'B' are all insiders and have a 2 yr restriction before they can be converted (self imposed) THEN another 2 yr restriction before they can be traded after that. Again insiders and SEC rules and regulations apply.
MIDLW are warrants that allows the holders to exercise I guess at anytime to purchase 1 share of common stock for 1 dollar, expiration 2001; Target - $2.50 or higher for ten trading days; After target is met company can recall all warrants for .05 cents I believe.
Note: for every warrant exercised the company will get $1.00 for each share exercised and the warrant market is done away with. ME I am playing the warrants for momentum only. I have NO intention of exercising them. Can not guess on the dilution factor at all till the warrants are exercised.
So in Oct of 1998 this year the MIDL float will dilute to the 2,575,217 plus 1,890,000 (54x35 MIDLP) = 4,465,217 minus the insiders 1,600,000 = 2,865,217 free trading float.
No other dilution I know of till Oct 1999 which is where the other 63,396 preferred A converts which will dilute another 2,218860 making the float 6,684,077minus insiders 1.6M = 5,084,077 Free Trading in OCT 1999.
Hope this clears up what you were asking.
Happy Trading
GB |
