Zulu-tek, Inc. (ZULU) Message Board

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Microcap & Penny Stocks : Zulu-tek, Inc. (ZULU)

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To: KZAP who wrote (2977)	3/9/1998 11:45:00 AM
From: slipnsip	Read Replies (2) of 18444

"A $50 million private placement of convertible prefered shares will begin in mid-March to provide the financial strength to position the group as the premier Internet Solutions Provider. " This is a pure equity private placement. That means ZULU gave away/printed $50 million of prefered stock possibly at or below current market level (price of stock). They need to disclose how and when convertible. If it is convertible at $5 a share great. If convertible at $.15 per share, then everyone who is long just got screwed. $50 million converted at $1 per share translates into another 50 million outstanding shares, on top of the 100 million previously authorized. Thats 50% dilution for the last example.........

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