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Microcap & Penny Stocks : QDRX
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To: Steve Casey who wrote (3810)3/12/1999 9:34:00 AM
From: M. E. Buck  Read Replies (2) of 3977
 
Steve,

I have not been involved with Quadrax for over a year, so I do not know the specifics of their deal with EB Acquisitions. All I know is what I read in their most recent plan of reorganization.

EB has already acquired the Victor/Victel stock from Quadrax. However, that deal was contingent on an approved plan of reorganization. EB has submitted a plan, but there are still a number of questions on it. In their plan, they would roll out Quadrax as a wire & cable business with the shareholders receiving 5% of the new company. EB gets 49%, but also has a non-dilution clause and cannot trade their stock for one year. Jim P. ($180k) & John P. ($215k) have job offers with the new Quadrax, but haven't said yet whether they will take them.

Who knows how it will play out in the end. Sorry I couldn't be of more help.

Mike
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