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Microcap & Penny Stocks : Advance Gaming Technologies Inc. (AGTI) -- Ignore unavailable to you. Want to Upgrade?

To: Spark who wrote (4516)	8/20/1999 5:23:00 AM
From: SCOOBEY-DO	Respond to of 4539

The following was taken from AGTI's 6/30/99 news release regarding their reorganization plans: The plan authorizes the company to issue 25 million shares of new common stock. Approximately 18 million of the new shares will be issued on the effective date. A "disputed claims reserve" of approximately 7 million shares will be established to allow for disputed claims that might subsequently be approved by Final Order of the Court. Unsecured creditors holding allowed claims will be issued 1.88 shares of new common stock for each $1 of allowed claim. Based on current estimates, the company expects shareholders of record on July 29, 1999 to receive 1 share of new common stock in exchange for each 66 shares currently owned. Approximately 115 million shares of the company's common stock are outstanding at this time. Reverse split of 66 to 1. The date was moved to August 19, 1999. It is my understanding that we should see the new shares reported today. Scoobey