($9.60 post-reverse share), which right of purchase will expire, if not exercised, on August 31, 2002.
Actually, Offie, I don't read this to be a bad sign. Whoever accepted these warrants as payment for services (a big "whoever") is clearly agreeing with the company that the share price will be $10 or better on or before 8/31/02.
While that certainly sounds like a stretch for us miserable, suffering souls here at the bottom of the Oilex well, I feel that this is the first happy news I have heard come out of this company in quite some time.
Today was an interesting trading day, too. OLEXD gapped down to .32 at the open only to rebound 25% to .40 by 10:10am. Now the casual observer might see a measly 2.5% gain on the day, but I see a ray of light here.
At least until the next debenture hits. There must be better days ahead, though!
Cheers!
Rick
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