Peter;
I talked to Bill Patrowitz at the CWRC offices a few months ago,
and if you can believe anything he says. HOPR had as of the
last count 40 million outstanding shares of common stock, 150 million
shares authorized. I did not ask about the preferred shares. I think
that the Ex officers of HOPR (Berman, Leclerc & Patrowitz) may hold a
signifigant amount of those shares, not to mention others who helped
fund the company. I was just reading the last annual report and the
Series D preferred stock conversions were calculated by price of the
common stock $10.00/price, so if someone convert last week when the
price was .004, thats a 2500 to 1 conversion. If they convert 10,000
shares, that would account for the 25million share volume spike.
Who knows how many more are really left out there?
(This next part is speculation, because no one is reporting here)
What a sweet deal, convert you preferred shares, which causes a volume
spike on a dead stock, all of the momentum players jump in and rally
the stock up. This may have also increased the number of issued shares.
Reading the last annual report from 2-10-98 is a complex web of preferred stock
transactions. I still suspect that there have been some major unreported
transactions out there, that most likely violate some SEC trading rules. |
