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Microcap & Penny Stocks : OILEX (OLEX)
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To: Steve who wrote (2916)3/8/1998 5:25:00 PM
From: edward shapiro  Read Replies (1) of 4276
 
Steve,

a few questions

1. How do you know that all debentures have been purchased? Did you talk to the company? Were you the holder of the debentures and are now upset that you did not get to exercise them all? Was it filed somewhere?

2. When the company did the 1:20 split, there were about 45 million shares outstanding, therefore about 2.25 mil after conversion. Now there are more than 3.5 mil shares by your estimate out there. How do you account for the increased amount shares outstanding if it was not conversions? Did the directors issue themselves more stock to maintain control of the company? Too much dilution from conversions will leave them with less than %50 of the shares outstanding. I am not sure how these things work, but could shareholders actually force a vote on management? Although management does not need complete control to run us into the ground, it helps keep their accountability to a minimum.

3. You don't have to answer this one, but I would like to know your average cost of your Oilex stock. I don't know mine, but my first shares were purchased at over .60 pre split. More shares were purchased in the .30's and teens, pre split. It is too sickening to actually figure out a full cost and per share price until I need to and so I am avoiding the pain for as long as possible.

tia
ed
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