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Microcap & Penny Stocks : Eutro ( EUTO )
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To: Eric Mason who wrote (9684)12/24/1998 2:18:00 AM
From: Douglas Craig  Read Replies (1) of 12043
 
Eric,

I happen to disagree with your evaluation of the stock. Management once told shareholders that the 50 mill was in escrow and could not be in the float. That turned out to wrong. Why would anything change this time? I also disagree that just having the shares authorized doesn't hurt us as long as they are not being traded. Whoever has those shares now has a percentage of the earnings that Eutro might collect, and the fact that they now have a percentage has decreased the percentage of MY holdings by 1/5 if all are used in purchases, employee stock benefits, etc. I believe this will eventually happen since that is the excuse that the company is giving for increasing the number authorized.

Finally, why didn't Eutro just use the 50 mill shares that they were getting back from the other companies instead of authorizing more? They could have given companies an equal percentage of shares without increasing the overall amount. For example, if they are acquiring a position in Club XYZ by giving them 5 mill shares at the current number of authorized shares this would be 1% of that total. They could have given them 1 mill shares of the returned shares keeping the authorized shares at 100 mill and accomplished the same thing. It makes no sense to me other than they didn't really care about the current shareholders and/or they are just planning on selling more shares to keep the business afloat.

This is the reason that I only have my warrants and preferred shares remaining of my interest in Eutro. This has been the biggest disappointment of my investing experience, limited as it may be.

I hope you all have a Happy and Safe Holiday.

Doug
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