Hi Bearcat,
I noticed the 58,006,598 shares outstanding. I believe that is 5,000,000 more then I was quoted 2 days ago. So where did the other 5,000,000 shares go? Or are the 5,000,000 shares part of this offer.
Decisions to make,assuming you had 10,000 shares. By March 31,1998 you can acquire an additional 1000 shares(10 rights plus .70 per share). this 1000 shares gives you the option to buy another 500 shares at $2.50 by May 29,1998 and 200 shares at $4.50 after May 29 upto July 31,1998.
They are giving you 3 options to consider.1) You can buy at .70 or sell your rights,if you buy you get option 2 and 3. 2)buy at $2.50 by May 29,1998. 3) Buy at $4.50 between May29,1998 and July 31,1998.
Kind of tricky.It may even be worth while buying at .70 prior to March 31,1998 even if the stock wasn't trading at .70 merely because you buy yourself the option to purchase later at $2.50 and $4.50,thats of course assuming you think the shares will be trading above these prices at those times.
It doesn't say if the warrants in option 2 and 3 will be listed for trading.Don't know what they are getting at when they say"warrants may be issued with flow through rights".
What does it do if they are all exercised,adds 5,800,660(raising $4,060,462) common share in first phase,2,900,330(raising $7,250,825) in second phase and 1,160,132(raising $5,225,094) in third phase.Adds 9,861,122 shares.There is no chance this is going to happen......is there?
At least it will be existing share holders that could benefit first.lets all hope. If I miss calculated somewhere above someone please correct me.
Jim P |
