UNIVERSAL EXPRESS INC - USXP Message Board

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Microcap & Penny Stocks : UNIVERSAL EXPRESS INC - USXP

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To: jmt who wrote (385)	6/30/1998 7:05:00 PM
From: Bill Monahan	Read Replies (1) of 2493

RE: the REG S - I did a little research and you are correct that the company gets into a real bind when the REG S conversion pushes the shares outstanding above the max authorized. This is not allowed by the SEC. They can't increase the shares outstanding max authorized and if the company gets too close I think they have the option of a reverse split and the max shares authorized can stay the same. DO you agree? In this case it might be good news if the debenture is absorbed into the float, however it might be bad news if it is only partially converted and there are more shares to be sold.

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