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Microcap & Penny Stocks : Short Term Picks From the 'Whiz' Kid
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To: Soccrates who wrote (3853)3/6/1999 4:45:00 PM
From: Israel  Read Replies (3) of 9115
 
from the companies Nov 98 10qsb..

The net proceeds from the sale will be retained by the Company pending a determination of whether to engage in a follow-on transaction. It is the intention of the Company to seek a business combination with another entity, before considering possible liquidation and distribution of its assets. The Company believes that with the cash on hand and net operating loss carryforwards, subject to the limitation of such carryforwards under the Internal Revenue Code, such a combination may be attractive to potential partners and would better serve the interest of the Company's shareholders. If no suitable business combination is identified within a reasonable period of
time, the Company may elect to liquidate and distribute the remaining net proceeds to shareholders. If the Company liquidated at the present time, all of the net assets of the Company would be paid to holders of the Company's preferred stock.

In summary.. if they decide to not pursue any other business endeavor, and decide to liquidate the company.. Common stock holders get Nothing.. everything goes to the P's. Yep.. definitely a sound proposition for the common <not>!

Happy trading,
Israel.. finally get a chance to do some DD on PCES.. would have been a good trade, but nothing close to an "investment"

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