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Microcap & Penny Stocks : Liteglow (LTGL) -- Ignore unavailable to you. Want to Upgrade?

To: jebj who wrote (4602)	8/19/1999 10:13:00 PM
From: Daniel Miller	Respond to of 4715

Does anyone know where I can get a copy of all the news releases from the past 2 years? I want to check out whether all of those yearly earnings were correct.

To: jebj who wrote (4602)	8/19/1999 10:21:00 PM
From: Daniel Miller	Read Replies (1) \| Respond to of 4715

t appears that the reverse split did the following. "On December 31, 1998, the Company's Board of Directors authorized a 1-for-60 reverse stock split effective December 31, 1998 for stockholders on record on December 31, 1998. This resulted in the retirement of 140,227,657 shares of common stock." I calculate that this left 2,376,740 post split shares. If you then add the shares from January and February mentioned in my post 3192 you get up to the current 3,926,740. These additional 1,550,000 shares I call dilution. It may be that the money raised was necessary, blah blah blah but it is dilution. Credibility problem. There is nothing wrong with what was done but it should be reported honestly. This is the GIANT advantage of the SEC filings. ----------------------------------------------- Hmmm.... Now let's do some earnings calculations. $ 2,334,768 (in june 99) vs $ 1,355,953 ( june 98) An extra million popped in there. Now if we multiply the diluted shares by lets say an average of .65 (Im speculating maybe higher, like on that runup to 1) we get about $1 mil.. Wow, LTGL is doing an excellent job in selling stock don't you think?