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Microcap & Penny Stocks : PKGP (Packaging Plus)

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To: John S. Baker who wrote (4054)	6/23/1998 8:15:00 PM
From: jmt	Read Replies (1) of 4783

Good questions on the financing. Hope ICC will respond. Another possibility is the initial $4M was convertable at Max of $4M shares, but the additional $6M "equity financing" is at a discount to market price. Certainly who would commit to $6M in equity financing if they could purchase the stock on the market at the same price. Some predetermined discount could cause some additional dillution. In reference to an earlier post of MM's covering for $400K, with limited float and a limited number of sellers, the attempt to cover would incrementally increase the price well above .07. Again that is conditional on buying into the short position theory. I for one will believe it when I see it. jmt

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