Sedna Geotech (SOT.V), explosive growth PE of 7 Message Board

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Gold/Mining/Energy : Sedna Geotech (SOT.V), explosive growth PE of 7

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To: Jon Matz who wrote (40)	4/2/1998 3:43:00 PM
From: Traveling Man	Read Replies (1) of 68

Jon, I don't know if this is part of the recent decline or not. This sure as hell doesn't reflect well at all on the mgmt. ability or concern of the managers for the company or the shareholders. Unless I am misunderstanding(and I may be) they had to pay these special warrant holders ~$1.9 million US to repurchase warrants, simply because they did not get them a receipt for the prospectus on time. This is as ridiculous a problem as I have heard of. Now they are out $1.9 mil. that would have been in their till and they issued ~1 mil. new shares/warrants to further dilute the total for those who did not force a recall. I have no confidence in these folks anymore,none. TM

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