WestAmerica Corp. (WACC) Message Board

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Microcap & Penny Stocks : WestAmerica Corp. (WACC)

WACC 0.00

Nov 6 4:00 PM EST

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To: MeMark who wrote (603)	2/4/1999 12:48:00 PM
From: JOE TURMAINE	Read Replies (1) of 749

Mark, $6million I would think should get this project moving. If American Leisure now owns 25% and this new outfit owns 50% that leaves 25% represented by existing appx 40 million shares. If they had to issue 120million more shares that would mean 160 million outstanding. Were they then to do a 4:1 reverse to put the number back to 40 million, but with $6 million in cash things may work to our benefit. The 60:1 would have been "cruel & unusual punishment" & treatment of shareholders. Even 160 million outstanding shares could be OK except the earnings per share numbers would always look pathetic and would hold stock price back. I have no idea what kind of math has been done or will be done so long as our share does not drop below 25% I can live with it. Without this deal we have 75% of nothing. That's my opinion for what it's worth. Good luck to all of us. JOE

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