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

To: dreamer who wrote (6018)	6/9/1999 10:11:00 PM
From: Ga Bard	Read Replies (1) \| Respond to of 7039

I am reading and lurking .. there are some interesting Ideas. I do not think MP is in the picture since they have new attorneys MP hired ... He took himself out of the picture. I believe he is maybe around as a contractor and involved in some way but I do not know what capacity. I do not know if any of the latest scenarios are legal. I think from my own eperience and reading the rules of the SEC that the only option is to raise the warrants to a price where arbitrage happens at a higher level. The exchange cannot be done because of the prospectus. I have printed off the prospectus and going to get a legal opinion. SO far in what I have gotten is you can't do anything but raise the price of the warrants if it impledes the fair market value of the common which historically the warrants have thus nailing investors buying in in the common. I believe the prospectus states that it was orginally 1.50 when La Jolla did the underwriting. There is no requirement for a window. DF just dropped the price and sent a BOD resolution to the TA. That is all that has to be done. Now I am not saying they will raise the exercise price but we all know that something on the order of the follow would be fair. 1. Allow a window so those that wish to have the opportunity to exercise the warrants at .50 prior to any increase of say $5.00. 2. By letting the world know of the window and the Ps converting the rush for the warrants would be massive by the shorters caught which would allow the shorts a chance to cover and raise the warrants price on the market buying them. 3. This allows the warrants holders a chance or wish to sell them can. This is a doable idea. The warrants holders have a shot at exercising at the lower blue light special price, the shorts have a way to cover thus buying the warrants drives the market price up so those that wish to get out can. Then after the window make the exercise price $5.00 thus stopping the arbitrage. :-) Hmmm ... seems like a win / win ... GB