Leah Industries, Inc. (OTC-BB-LEAH) Message Board

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Microcap & Penny Stocks : Leah Industries, Inc. (OTC-BB-LEAH)

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To: Kelton who wrote (1087)	1/28/1999 4:45:00 PM
From: Dan O.	Read Replies (1) of 2153

Kelton and all: He is Converting not Selling. There are many reasons for converting preferred to common. For one, is that common can be used as collateral for margin or whatever. We do not know the terms of the preferred, so we can only guess as to his reasons. Please read and note the last sentence: Vladimir Alexander Gardt, President of SibMach, today has announced that he is converting his holdings of 6,000,000 shares of $10 Par Preferred (6% interest) stock into common stock on a one-for-one basis. The first 1,200,000 preferred shares will be converted immediately into 1,200,000 restricted common stock. The remaining preferred stock will be converted every other month over the next six months. Commenting on the conversion, Vladimir Gardt stated, ''I am anxious to convert my preferred stock into common stock because I am excited about the future of our company. The opportunities in these emerging markets are virtually unlimited and we are going to be positioned to make the most of it. I want to be a common stock shareholder in the years to come as these opportunities unfold.''

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