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Microcap & Penny Stocks : Liteglow (LTGL)
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To: JONK who wrote (2642)7/28/1998 5:55:00 PM
From: lakers17  Read Replies (2) of 4715
 
I am concerned about only 100 million shares authorized......

I have been researching this stock for a week and things look great except for one big red flag. On the positive side the company is near their 52 week low, minimizing the risk, have no long term debt, have real products and revenues. I talked to Michael today about my concern that they have 94 million shares outstanding and only 100 million shares authorized. This concerns me because they do not have that much cash. He explained that a share buy back or reverse split could happen. Since they don't have a lot of cash, I am concerned with a reverse split which kills these pennies which I have suffered through twice on PKGP/USXP and on BNEZ. He said they were looking to expand into the boat and home market as well with their products in addition to looking for more distribution agreements like the Pep Boys deal. Can anyone out there address this share problem? I can only see the outstanding shares being dropped by a reverse. This is the only reason I am holding back on an investment in LTGL right now. If the stock pulled back to .02-.025 I would consider day trading it but for the long term this company is talking about acquisitions which takes cash(which they don't have) or shares(with only 6 million left x.03=only $180,000) Does anyone have any comments about this?

Lakers
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