IVOC - Visual Telephone International Message Board

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Microcap & Penny Stocks : IVOC - Visual Telephone International

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To: Francois Plante who wrote (3384)	1/29/1999 4:02:00 PM
From: James A. Cole Jr.	Read Replies (3) of 4815

To: Richard Mazzarella (3384 ) From: Francois Plante Friday, Jan 29 1999 2:40PM ET Reply # of 3385 I cannot drive a conclusion .The only observation is that the float when from 19millions outstanding at the end of dec 97 to 26millions on January 14th to 31millions right now.. We could say that mgmt is having a party... We could say that they have to move ahead agressively and they need cash to do it. I prefer the second option...... live and see......... ******************************************************************************** Dear Richard & Francois, I just spoke to Joel- who hurrying out.but gave me a BRIEF explanation. Letter/Information Statement dated 01/22/99 enroute to all Shareholders, explains change in authorized shares to 40 million: and reasons therefor. Last sentence says " This action was taken to raise additional capitol fot the company for working capital; and (usual motherhood phrase) future acquisitions through the additional stock. Joel also indicated that he has NO significant Accounts Payable; and Company has NO debt. I'd say he's done very well-despite dilution!. Joel said (5 million shares) stock issued mostly to cover inventory build up for anticipated EPS orders. Didn't have time to ask him if 504-which can be sold immediately; or 144 which usually carries time restriction before it can be traded. That would answer question of whether recent volume came in part from these shares Why doesn't someone call him Monday and ask; then let us know... There is no preferred; Joel and Carl hold shares (300,000) of Class B common. which has no market value, BUT gives them voting control Sugget await the letter. Wish I had a "reader". Regards, Jim Cole

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