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Microcap & Penny Stocks : MIDL .... A Real Sleeper -- Ignore unavailable to you. Want to Upgrade?

To: Ed Hoftell who wrote (5907)	6/9/1999 8:04:00 AM
From: Whitetigr	Read Replies (1) \| Respond to of 7039

They who? It was DF that dropped the ex price and gave the dividend to the P. <If they screw the warrant holders at this point, the stock will be worthless.> So you are saying it is ok for the P stockholders to get the shaft but if the warrant holders also get it then this stock will be worthless? Lets face reality. When someone buys warrants there is no gurantee that they ever will be able to exercise them anyway. It is not the same as having stock. We don't even know if the warrants will ever trade again. I would expect the SEC would want certain questions resolved on the warrants, probably the same ones that we are discussing. I would think it to be very reasonable to let the warrant holders have the same deal as the P holders got concerning the actions of DF and let the warrants still be exercisable. What needs to happen here is the shell needs to be left in a position that it can be of value to some company coming in or we are all screwed. Bottom line is if the shell has no value to someone coming in then all the stockholders may as well vote to distribute the assets to all stockholders. That's it, if we can't come to a resolution then lets take the assets and distribute them to the stockholders and dissolve this mess.

To: Ed Hoftell who wrote (5907)	6/9/1999 9:10:00 AM
From: Ga Bard	Read Replies (1) \| Respond to of 7039

Now Ed go read the warrant registration filing ... The BOD has the power to do whatever it wants to the exercise price of the warrants. The BOD drop it to .50 and they can raise it to whatever they want. Warrant holders are simply anticipated shareholders. No vote, no nothing until the warrants are exercised. The warrant exercise price will govern the worth of this security simple as that. If it is .50 the stock will never hold much more than that. What company would want to come into a shell that can never hold much more that .50 + the cost of the warrants? I do not understand why people are refusing to see this. :-) GB