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Microcap & Penny Stocks : MDI Entertainment (MDIH) -- Ignore unavailable to you. Want to Upgrade?

To: MDIH-Fan who wrote (461)	8/16/1999 10:36:00 PM
From: BuzzVA	Read Replies (1) \| Respond to of 563

HARTFORD, Conn.--(BUSINESS WIRE)--August 12, 1999--MDI Entertainment, Inc. (OTC BB:MDIH) announced that it has received gross proceeds of $1,750,000 from the private sale to an investor of 2,027 shares of Series A Convertible Preferred Stock, representing approximately 20% of the outstanding common stock of the Company on an as converted basis. MDI will shortly be filing with the SEC a report on Form 8-K with the details of that transaction. Does this represent 20% of the total OS common shares INCLUDING the number of converted shares? Or 20% of the total os shares PRIOR to conversion? How many os shares BEFORE conversion? Also, I'd recommend to everyone to wait until the 8-K comes out before investing. Too many BB stocks come out with floorless conversions which will kill the stock price until conversion. All IMO.