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Microcap & Penny Stocks : PKGP (Packaging Plus)
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To: slotman who wrote (1782)5/16/1998 2:05:00 PM
From: TraderGreg  Read Replies (1) of 4783
 
I agree that this is way too much a moving target to get accurate counts. Moreover, the MMs could easily fake it with dummy numbers.

This is just a wild stab, but I honestly think the only accurate representation of the share count will occur at the Transfer Agent's office at the time of the name/symbol change.

An example, USING PURELY HYPOTHETICAL NUMBERS:

If the company issued 18 million shares in normal fashion and the TA issued another 20 million shares during the conversion of the debentures(some of which had to have been converted by now legally), that would represent 38 million shares.

Now, if the "allie allie in free" from brokerage houses totals 84 million shares at the time of the change ~July 1, then one could assume that an additional 46 million shares were shorted. If the percentage shorted is this high, it will be very interesting.

Ever played musical chairs where while the song is playing, HALF the chairs are removed immediately instead of just 1?

TG
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