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Technology Stocks : Turbodyne Technologies Inc. (TRBDF)
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To: Nathan Hansen who wrote (2339)12/20/1998 7:11:00 PM
From: StockDung  Read Replies (1) of 3458
 
Turbodyne continues to use its combination of false technology and sales potential claims to allow inside option and warrant holders to benefit from its fraudulent stock promotion. Turbodyne's recent Form 10Q filing shows that between March 31 and June 30, 1998 the company issued 3,758,844 shares. Turbodyne issued these new shares at an average of approximately $4.27 per share. These shares represent an extraordinary 10.4% dilution to existing shareholders. The Form 10Q also disclosed that between June 30 and August 10, 1998 Turbodyne issued yet another additional 1,120,349 shares at an average of approximately $3.58 per share. Since March 31, 1998 Turbodyne has increased the number of shares it has outstanding by at least 4.9 million, or 13.5%, without an underwriting or any sort of prior notice to shareholders. As a result, it now has over 41 million shares plus 6 million stock options and warrants outstanding.
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