Here is something I can't understand? Capital Bay was a creditor
of MSU back in the summer. $2.3 million note. When MSU completed
its licensure agreement last summer, MSU took the AIME stock,
500,000 shares, and used those shares as a collateral gaurantee
to Capital Bay. In this latest financial which is 1st Q-99, Sept.
30, 1998, it is reported that MSU took "an unrealized loss of
L 1,071,250 (British Pounds) on its AIM investment."
In June of 1998, MSU formulated an agreement with Capital Bay
to convert the note to equity on a sliding scale related to stock price.
What I want to know is the Capital Bay Note converted out, or cleared out for the AIME stock?
MSU mentions in its filing that cash flow related to product
sales, licensures, etc. are in forecast in the 2nd quarter, and
3rd quarter (which is now), but that set backs could incur further
losses.
You can reach the Edgar Filing though Yahoo Finance Quotes under
news.
I don't like rendering opinions, but, with the positive news release
from Dec. 15th, and the fact that it is typical for MSU to say little,
but when it does, does a lot of risk disclosuring, the filing
is as expected. |
