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Microcap & Penny Stocks : OILEX (OLEX)
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To: CHRISTINE who wrote (3860)8/17/1998 8:29:00 PM
From: Steve  Read Replies (1) of 4276
 
Saul continues to dig a deeper hole for himself. He now has enough invented creditors to file chapter 11 which was his original intent. I told you that at the beginning.

He is throwing around wild charges and is not too well disguising what he is after, the 800,000 shares of PWRX held by Churchill. His mouth is watering, he wants those shares folks but the problem is that there is no legal way he can get them. My scenario is that he files Chapter 11 and goes after those shares. If he can convince the bankruptcy judge that the only deep pocket in this whole affair is Churchill and that there is a connection between Churchill and Oilex he may have a chance.

But first he has to throw around these charges and hope something sticks so he can make his case to grab those shares. This is just so much cover for what he is after: liquidation of Oilex through a gradual sell-off of assets and stock buy backs at depressed prices. He's going private folks, read the tea leaves and weep.
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