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Technology Stocks : I-Link Inc (ILNK), VoIP Telephony
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To: David L. Carter who wrote (284)11/21/1998 8:24:00 PM
From: Michael Paul Langley  Read Replies (2) of 417
 
I agree with your assessment of ILNK's failings. Independent Reps (MLM)in ILNK keep saying Winter Harbor has invested $73 million which validates their great technology, etc. IMO the SEC documents don't show investments of anywhere near these amounts (I haven't added them all up yet). Furthermore, the prefered stock holders (Winter Harbor, etc) have a liquidation preference of $26,572156 as of end of 3 Q (This is more than ILNK's total assets at this time). Must be nice to get involved in a near riskless investment. IMO in the end common shareholders are going to get screwed long-term in ILNK. I expect the share price to fall below $1 within 12 months (I believe on company hype it will spike a few times in the interim)when the preferred shares start getting converted to common.
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