I dug this up today. It's worth a read:
Subj: 05 NIR, NUKE BB COVERAGE INITIATED
Date: 98-04-22 00:39:39 EDT
From: MARIPOSA@islandnet.com (MARIPOSA)
THE MARIPOSA NEWSPACKET
>>relevant exert<<
>>I am going to write a report on Rhombic Corporation US BB NUKE. In order to do this, I have talked with one writer of a newsletter
in NY that has written up the company, one person who is connected with a letter that may write it up, members of the company and the moderator of another newsletter. If you read the disclaimer, you will see that this is not the norm, that is why I am mentioning it. I am writing it up because it is such a great story for science and, well read on.
Rhombic has a web site at www.rhombic.com. The company offices are
in Vancouver, the number is 604 683 4864, Larry Owen is the CEO. Michael Skerry is the information contact at 1 888 8216607. Not for the faint of heart, no technical significance, chart at pcquote.com. No, those are not flags. This I am going to put in the extreme stock section.
I have 3,700 shares. 700 that I bought one year ago, I told you that I was human, and another 3,000 at .53. So why pick this stock to do a write up on? They have royalty rights on the, are you ready for this? The Daimler-Benz Aerospace Centre IEC-PS point source neutron nenerator, using the spherical Inertial Electrostatic Confinement principle. At this point you are about to type remove in the subject line. Wait -- they also have a patent on a process called forced diffusion that impegnates diamonds with inpurities producing n and p type diamonds. The stock is being heavily shorted as well. The BB market is every bit as bad as Vancouver, possibly worse. The spread could increase, the volume could go to zero. There could be a NUKElear accident.
The company is just finishing a 504 stock offering. The 504 will generate 700,000, and mostly be sold to insiders. It consists of 1,000,000 shares at .20 plus 2 warrents at .25 exersisable within two years. At that point there will be about 15,500,000 shares outstanding with 3,500,000 in the public float. This may complete at the end of the month at which time some may be sold on the market and possibly effect the price ADVERSELY. The money will go towards reimbursing a U.S. university for some equipment and making the company fully reporting.
There is a POSSIBILITY of a convertable debenture financing this
weekend. For those of you who don't know, the general idea is that a price is fixed based roughly on the value of the stock at the time of the deal, and that price is used to arrive at the number of shares in the debenture. Another price is arrived at which is higher, and that is the price at which that debenture can be converted into shares. An interest rate is arrived at, and a term. At the end of the term the lender has the option of rolling over the debenture or converting to shares. If the conversion takes place, I THINK that it becomes a private placement and there is some time restriction on when they can become free trading. APPARENTLY, for a non American there is a one year hold and for an American there is a two year hold before the
shares become free-trading. Check all this with someone that knows exactly what the circumstances are. There is a gray area here.
At the moment, there are about 10,000,000 restricted 144 shares that
are not free trading. These are held in three blocks, a control block of 4M, a 3M block held by Rockford Technology Associates, a wholly owned subsidiary of Rhombic, and a 3M block held by insiders and scientists. Apparently, any blocks of 144 restricted shares over 10% of the total outstanding shares must apply to the SEC before being released on the market and, if they are, then they are subject to some restrictions as to how many shares can be released at any time.
The company EXPECTS some revenue from royalties on sales of the IEC
units this year. Proceeds from the debenture, SHOULD it go through, will be used to fast track the diamond doping plant that the company wants to get underway in, I believe, Columbia, Missouri, which will be headed up by Dr. Mark Prelas, PHD. Professor of engineering at the University of Missouri-Columbia. I spoke to Dr. Prelas last year about the project. I know the science on this fairly well. I talked to Mr. John Sved today, who was kind enough to phone me from the St.Louis Airport in response to an email that I sent him last night. Mr. Sved is the initiator of the IEC Fusion Device Business Development for Daimler-Benz Aerospace. Mr. Sved is in the U.S. talking to potential customers for the IEC device.
Tomorrow I am going to Vancouver to, among other things, attend one
day of a conference on cold fusion that is being held there. Gus (the author's dog) has elected to stay behind. Attending the conference is Professor Heinrich Hora. Dr. Hora is Professor of Theoretical Physics, University of New South Wales, Kensington, New South Wales, Australia. Dr. Hora is an expert in laser-plasma interreaction and particle beams for fusion, among other things.
Another esteemed member of the scientific team is Dr. George Miley,
who is also at the conference. Dr. Miley is a Professor of Nuclear and Electrical Engineering and Director of the Fusion Studies laboratory at the University of Illinois. Dr. Miley is recgnized as one of the pioneers in nuclear pumped lasar research. Both Dr. Hora and Dr. Miley are very busy at the conference, and I may not be able to speak with them directly.
Sorry about the ragged state of the press release.
All the best,
Ian Fletcher<< |
