I am really bummed because I had booked marked the other thread and not this one. When I book marked the other thread; it was the active one at that time. I had originally got in @.18, before calling the company, feeling at that time I had entered in at it's 52 week low.
Well, low and behold, it went down to .12 about 3 days later.
I did have a call into IR, but the individual that I needed to speak to at that time was on personal leave.
I eventually spoke to her, and she told me about the preferred sitaution. At that time, which was about 1 month ago, she said, "SIDT still had 1.5 million dollars of preferreds to convert." That's a hell of a lot of shares even @.12. I got stuck with that Fiasco with CMYN.
I wasn't going to let it happen twice.
I was going to wait until June 1, to even think about reentering.
Well, SIDT, probably, knew that when June 1 rolled around, the preferreds would be dumping a bunch of their shares which would dilute the price even more. This leads me to believe that this run has only begun, because why would SIDT make the announcement of the sell of the division before June 1? I did ask IR, if you get a buyer before June 1, 1998, will you make the announcement before June 1. At that time she said yes, because we believe that there is the possiblity of the preferreds shorting the stock and the sooner we get the price up, the less the shares we will have to issue.
Just imagine if you were a preferred shorting the stock, you just watched your investment decrease by nearly 200% and that's not including the additional shares you are out. JMO |
