SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Microcap & Penny Stocks : International Nursing Services Inc, old (NURS) new (MDIX)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: MICHAEL R WILLIAMS who wrote (962)5/6/1998 10:22:00 AM
From: Mike Moran  Read Replies (1) of 2911
 
Thanks for the nudge Michael. I assumed no gain on the receivables even though I have posted previously that I think there could be a small windfall. I also didn't assume conversion of the remaining $200,000 of Preferred Stock or the 300,000 warrants. Lets say they convert and redeem. That creates 150,000 new common shares. It doesn't significantly change the numbers.

I assumed that existing FY1998 cash flow will pay off the deferred redemption of the $800,000 of convertible Preferred. The IR firm recenty told me that the staffing business expects to throw off about $1 million in 1998. Well, they'll keep 75% of that cash prior to the transfer of the assets.

Yes, I included the new Preferred stock from the Banyan deal, valued at $2 million. My experience is that this stock is probably worth less but in the spirit of the deal, will be redeemed for cash sometime in 1999.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News