Guys, that is not, I repeat, not an addtional 29 million shares addded to the outstanding!!!!
It is just an updated, amended S3-A which is required by SIDT, by the Warrant holders, and preferreds request.
Once you go back and read through it, overall there is a lot of great things that SIDT has negotiated with the preferreds and Warrant holders.
They negotiated with the preferreds in March where the preferreds agreed to convert only 1/6 of their shares each month at the average bid price from the following month. Only in March were the preferreds able to convert @ .15. The preferreds are able to convert through August, 1998.
They also negotiated with the Warrant holders where the Warrant holders are able to purchase an additional 50,000 shares @ 1.00 each.
These two issues each are just the tip of the ice berg which will definitely push us pass the $1.00 level in the near future.
The warrants have to exorcise their option before June 1, 1998.
In the past the preferreds were able convert at any price, which is why the company believed they (preferreds) were shorting the stock.
Now it is a win, win situation for all parties involved!!!
They, especailly the preferreds and warrants want a higher price immediately!!!
Also, in the filing, the company states that they anticpate great things to come in the very near future, which will add to a higher share price.
Sorry about the spelling!!! |
