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Microcap & Penny Stocks : Amazon Natural (AZNT)
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To: jhild who wrote (13031)11/23/1998 5:38:00 PM
From: EL KABONG!!!  Read Replies (1) of 26163
 
jhild,

My thoughts were that I found it very suspicious that they waited until they had no external transfer agent before pulling this conversion stunt. I find myself asking why, why, why. There's got to be a reason. I think the answer may lie in the record keeping somewhere. Janice had mentioned something about making the preferred shares convertible back to common at some ungodly ratio such as 100 to 1. I was looking at the possibility of an ungodly reverse split, and then issuing new common for the preferred shares. But this action would only benefit those who are short the stock, not alleviate the short pressure. So it makes sense only if insiders were short the stock to begin with. Unless they've given up all hope of winning the shorts squeeze, and now they're concentrating on at least restoring share value for the insiders at the expense of common shareholders. All of this is just hypothetical reasoning. We really need to see current 10Qs and the 1998 10K.

KJC
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