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.

Microcap & Penny Stocks : General Stores - GSIC -- Ignore unavailable to you. Want to Upgrade?

To: Codfish who wrote (886)	8/20/1999 12:42:00 PM
From: Bo Le	Read Replies (2) \| Respond to of 972

Here are some facts from GSIC old website: (1). 100 million common shares authorized. (2). 50 million convertible perferred shares ( 1 convert to 10 common) authorized. (3). Insiders have 85% control. (4). OTC BB non reporting company. Here is my conclusion: (1) + (2) + (3) + (4) means that GSIC insiders can dump up to 510 million shares (85% of possible 600 million). Of course, this is worst case (only thing even worse is that GSIC goes under) and may never happen. But why should anyone invest in GSIC with this cloud? I would like GSIC management to cancel all un-issued common and perferred shares. If they do that, then GSIC will have a stable share base (about 50 million shares). Then we can evaluate how much each share worth. Until they do that, it is meaningless to try to figure out how much each GSIC share worth. Just my two cents. Bo