PKGP (Packaging Plus) Message Board

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Microcap & Penny Stocks : PKGP (Packaging Plus)

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To: Qone0 who wrote (3317)	6/8/1998 3:53:00 PM
From: anthony karpati	Read Replies (1) of 4783

Talked to ICC. Asked about the convertible preferreds. They have approximately 10% left or $400,000 convertible as of June 8. $400,000/0.071 = approx 5.6M shares. ICC didn't want to speculate on any short position, but the prefs probably started to short in order to reduce the stock price so that they could accumulate as many shares as possible. ICC did not seem to care about any future dilution. They liked the company and believed them to be undervalued based on revenues alone. They expect good things from the company in "60 to 90 days, maybe sooner." The company could and may be considering paying off the remaining $400K. I got a good feeling about PKGP talking to ICC, but based on ICC's coments alone, I don't know much more about the current (if any) short position. My personal gut feeling based on the past few weeks and today's price action is that there is a good probability for a short squeeze coming, but I could be wrong.

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