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Microcap & Penny Stocks : NuOasis (NUOA) formerly NONA
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To: rick f who wrote (453)10/3/1998 1:23:00 PM
From: Gary s Gilbert  Read Replies (3) of 1622
 
Actually FXWA did purchase the 20 acre site to be known as
Oasis, albeit with stock, 1st and 2nd mortgages, with money
from at least 2 sources including a Florida investor. They
also bought 2 bankrupt companies, ARET currently trading
at .0008(this is not a misprint) and Kelly's coffee. If you
follow the Stock Detective thread this is part of a classic
pattern and a cause for more than a bit of concern.
FXWA and NUOA are defacto merged: NUOA appoints 2 members
to the FXWA board, FXWA appoints, and 2 are to be chosen
by mutual agreement. FXWA has proposed to change its name to
Oasis.
Can a merger, de facto or otherwise, legally occurr without
shareholder approval? The note we received from FXWA for 180mil
effectively becomes our obligation. the warrants call for
6 dollars per share to increase NUOA equity stake to majority.
will FXWA trade at this level once it is truly on the open market.
I doubt it. Otherwise NUOA efectively holds 20% equity stake
regardless of stock price.
Ken tells us this is all great, cause we should believe and
Johnathan says good things. Ken also opens this thread in
January by declaring NUOA as now 'profitable' and soon to
see '5 spinoffs'. The only spinoff I've seen is 'spin' and
downward spin of stock price. Had the company maintained its
discipline and focus we would not have sold the Jewels to the
mayor and his pal, and might slowly have built an empire
in an untapped market, the mediteranian, heretofore limited
to the monte carlo crowd and not the burgeoning americanized
middle class in Europe. too late.
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