Pacel (PLRP): If NASA likes them, shouldn't we? Message Board

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Microcap & Penny Stocks : Pacel (PLRP): If NASA likes them, shouldn't we?

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To: broke2 who wrote (6)	9/7/1998 1:10:00 PM
From: Warlock	Read Replies (1) of 3171

Regarding IPO, etc: Your idea to contact the CEO is a good one. I spoke with him late Thursday, and that was one topic we went over. From my understanding, many shares were issued in the .35 range. Others were sod in a UNIT (contained 1 share, and seven warrants). Each warrant was instantly convertable for shares. All warrants have been converted. I believe this equated to stock sold in the .21 area. As far as IPO. . . I would term the planned offering in March a SPO, secondary public offering. However, it could be that because past offerings were made to PRIVATE investors, it was cosidered a private rather than a public offering. My understanding is that a few shareholders own millions of shares (friends, family, etc). Even if some of their stock is not restricted, they will not be selling at these levels. Therefore, I believe the effective float is quite a bit smaller, perhaps in the 700,000 range. However, I admit I'm a bit fuzzy on the above issues. I strongly recommend that you ask management personally.

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