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Microcap & Penny Stocks : Southland Communications (SINC)
SINC 6.000+9.1%Jan 9 3:22 PM EST
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To: IRVINESULLY who wrote (26)3/27/1999 9:11:00 AM
From: jackil_54  Read Replies (1) of 264
 
You're right about some of the reasons why SINC dropped near the end of the day. But there is one more major reason; I was told to expect a news release on Friday and I (among many others) were expecting the financing deal to be announced. This is the 50 million they need to build the telecommunication infrastructure; they will need more money in the coming years but 50 million is all they need this year. I was trying to hint this with my posts about it going to the moon; I was expecting a double digits close a the time because I was convinced the financing deal was coming; all the signs were there a new all-time high and everyone around the company was very quiet.
The news release came but it wasn't the financing deal so people took profits. It has to be understood the financing is the most critical element to this company's success.

By the way, you're right about the float being small but expect more shares to be issued when the financing is announced although I was assured that they're going to limit the number of new shares issued as a major part of the financing will be considered long-term debt; good for the long term shareholders. By the way, I didn't do any sort of trading with SINC today, what's the point I'm expecting the financing deal in the coming weeks; why get greedy and take a chance?
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