International Precious Metals (IPMCF) Message Board

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Gold/Mining/Energy : International Precious Metals (IPMCF)

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To: Richard Mazzarella who wrote (430)	11/12/1996 8:05:00 PM
From: Zeev Hed	of 35569

Richard: Warning: Reg S equivalent in the background. Correct me if I am wrong, but on page 26 of IPMCF form 20-F, last sentence of Paragraph 9 I find: " In connection with private placement in the year (1995?)warrants totalling 8,000,000 at a price of $.12 per share were issued and remain outstanding with an expiration date of January 1997". I do not know how many of these warrants are still outstanding (at the end of 1995 there were 9.5 million shares outstanding and now about 11 Milion so at least another 6 millions are going to come on the market. This should be enough to drive this stock under 1. Are my data wrong? Please help. Bloodhound hates broken teeth. OOPs, these numbers might have been pre reverse split. According to annual report there are warrants expiring Nov 30, 96 (1.2 million but some might have been exercised prior to July 31) and Jan 97, 758,000. Still a lot of stock coming up for sale for the next two three months. If we take 500,000 left of the first batch and 700,000 of the second batch and assume 40 trading days to expiration, you get about 30,000 shares (or 60,000 taking the double counting on Nasdaq) a day of supply. That is a lot and dangerous. Zeev Zeev

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