GLBM expected to earn $.25 next year - A buy at $1.25 Message Board

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Microcap & Penny Stocks : GLBM expected to earn $.25 next year - A buy at $1.25

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To: Neurogenesis who wrote (682)	8/19/1998 11:49:00 AM
From: Proton	Read Replies (1) of 938

Re: Analysis and Outlook I am a shareholder, so no defenestrated infants here! :-) I believe the underlying reasons for excitement about Maintech are still there, even if I don't mention them. I agree that every new customer is important. The structure of the offering suggests that they are reasonably 'certain' the stock will average $2.93 per share in December. Perhaps, but the structure of the offering is still cause for concern. It's one thing to dilute equity in the interest of working capital (which is clearly the need driving the offering), new technology, or a business partnership. It's quite another to make a "bet" that the stock price will appreciate enough to avoid further dilution. It appears the company is confident that sales will come through in the second half of the year. As I mentioned above, I believe the offering is motivated by the need for working capital to fund inventory and other costs of sales. I don't think they're raising the money to keep the doors open, thank goodness. :-O Maintech must publicly clarify the terms of the offering. We know the strike price of the warrants ($2.60), but we don't know the expiration date. Are the shares restricted? If the target price for December is not met, do investors get both common and warrants (the language in the 10QSB was imprecise). Do investors have to be "accredited" (pass net worth and income requirements)? Most important: how many units are left to sell? This overhang will depress the stock until it is eliminated. At a bare minimum, I want to know when the offering is complete. Anyone out there want to help me try to price the offering? Is it worth an extra $0.70 to sell the stock on the open market and buy the units from Maintech? Jonathan or anyone else: have you been in contact with the company? I've never been pleased with the responses I've received from them, and my ability to communicate with them during business hours is constrained. Someone might want to direct them to this thread! :-) Pý

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