OILEX (OLEX) Message Board

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Microcap & Penny Stocks : OILEX (OLEX)

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To: Ditchdigger who wrote (2941)	3/14/1998 7:19:00 PM
From: OFW	Read Replies (1) of 4276

Ditchdigger: As our resident expert on Reg-S conversions, can you comment on the timeline for the latest financing to be eligible for conversion. This one was issued on 1/28/98, so I assume that 45 days puts it at about 3/14/98. I'm never quite sure how to compute the 45 days so could be a day or two off in my calculation. SEC Filing 2/9/98 Debenture Issued 1/28/98 Face Amount $625,000 Discount Off Face 20% Conversion Ratio 80% Fees to Underwriter 10% plus 2% unaccountable expense allowance $625,000 @ .16/share = 3,906,250 shares Offie PS One year ago today, OLEX closed at .875 pre-split. With this past Friday's bid at .16 post-split (.008 pre-split), investors have had a one year price decline from 87.5 cents to 8/10ths of one cent. Anyone care to calculate the percentage rate of return on that investment?

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