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Microcap & Penny Stocks : IDMC Waste disposal or just garbage?
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To: pkwknk who wrote (779)6/5/1998 12:35:00 AM
From: Lou Cifer  Read Replies (2) of 972
 
From the meeting:
-El Salvador project is ready a well-known bank gave IDM a letter of intend.The only delay is due to the privatization of the electric company that just took place in El Salvador.IDM is negotiating a better deal with the bank because now they will be able to charge more for electricity than before.Deal should be done in 30 days.
-Germany is on time,Duke-IDM team waiting on one issue.The Germans have set aside 6.2bill Marks and the team wants them to put in writing that in the event that they find more contamination than expected the government would agree to pay for the extra work.This should be done by Sep-Oct.The land that IDM owns in Germany is worth $150 mill right now.BTW,no financing is needed in Germany.
-CAT is IDM's equity partner in the El Salvador project.
-The project in China doesn't require financing by IDM,the government
of this country will take care of the costs.
-Falco and Friedman changed their compensation package.From getting("for free")15 % of the shares out if IDM reached $6 mill in
net income to 2,250,000 in stock options exercisable at $3 11/16.
What does it mean?a)When they exercise,about $17 mill will be paid by them to the company.b)It gives us shareholders confidence that these
2 guys are putting their money to buy the stock higher than what it is now.
-Many shareholders didn't understand why the company wanted to have
the OK to be able to raise the number of shares from 30 mill to 76 mill.Simple,it gives the company several options for the future:1-If the stock hits $20-$30 they can do a 2:1 split.2-If they see a company
that they could buy cheap they can offer shares.3-They could raise
money if needed for growth;this is common practice done by all publicly traded companies it DOESN'T mean that they are going to dilute the stocks as the BOOs and the shorts tell you.
I hope this helps the serious investor(not the yahoo reader....)
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