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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments
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To: Mr. Pink who wrote (947)2/12/1998 9:27:00 PM
From: valueminded  Read Replies (1) of 18998
 
Mr. Pink:

Thanks for coming out of hiding. I had written you earlier on my assessment of ACRT based on my reading the last 10Q - but I guess it was eaten by the cyberdisposal. so here goes again

My (2) observations (aside from the fact that they seem to be burning cash at an incredible rate and I don't see how they make it through the year) were:

1. They had net stock dilution of ~ 10% in a single quarter (wow) based on excercise of warrants etc

2. There was an award of 1 million share options (ie 12.5% of company) to Ahroniuss. At an excercise price of ~$15 the lowest of the quarter.

Both of these events I find incredible. But what do I know.

Again thanks for popping back in.
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