Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Millstream Mines (MLSM) -- Ignore unavailable to you. Want to Upgrade?

To: Brumell who wrote (120)	6/14/1999 5:43:00 PM
From: Morag	Read Replies (2) \| Respond to of 664

Warrants, Options and stock issued. Well here goes - there are currently 29,248,543 shares issued as of May 13, 1999. It's harder to figure out where all the options, warrants and private placements fit in - the best source of info is to follow the press releases dated May 13, 1999, May 7, 1999, December 18, 1998 and January 15 1998. Brumel - you provided the link to millstream site in your last message so people can go there and just click on News releases to scroll down to the dates I noted particularly if they want to work the option numbers a bit. As far as I can tell, the last two private placements have added an additional 2 million "units" (Each unit is one common share with 1 purchase warrant) All the common shares are exercisable @.50 each. The purchase warrants are exerciseable at different prices with it appears similar expiry dates. For example 1.1 million warrants are priced at .50 for a period of 2 years and 900,000 are exercisable for two years at .75 per unit the closing date for these warrant conversions was not clear - but lets assume to the end of June 2001. In addition there are a number of "flow through warrants" (bridge financing?) that were all exercised by May 13 and they total 8,334 plus 15,000 by May 7 all @ .45 per. Also,there's a whole whack of other assorted options to purchase presumeably for insiders. In addition to this - director options totalling 83,333 were exercised by May 7 at .30 per. The net effect has been that since January 1998 to shares have been diluted by approximately 30% from roughly 20 million to 29 million and change. In addition, there are warrants that will be probably exercised if significant results are announced or reported over the next 24 months. All of the above noted activity may have accounted for the downward pressure on share value. Last time I read anything about the potential share value of this company was several years ago and then it was suggested that 1.80 to 2.25 would be a reasonable target - that was before the index tumble and partial recovery, before the stock dilution and before the "exciting anomolies" were noted. Perhaps someone with more experience could review this and "project" the impact on future share price, potential price to earnings ratio. etc. An educated guess would certainly be useful - no hyping need be posted. That's it for now