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Microcap & Penny Stocks : ABFG - AMERICAN BENEFITS GROUP, INC. -- Ignore unavailable to you. Want to Upgrade?

To: Daniel Chisholm who wrote (4115)	5/18/2000 3:02:00 PM
From: Jeffrey S. Mitchell	Read Replies (1) \| Respond to of 4128

surely that'll let them keep issuing new paper for, oh, another year or so? However, if they do get back on the OTC, any paper they do issue will no longer be exempt from registration, as all those other shares were. It will still be some time before they are listed as even though technically ABFG's third quarter results are not yet overdue, by the time the SEC gets around to reviewing the updated filing they will be, and thus they'll have to refile to remain current. If you subtract the 48 million shares ABFG has issued since December of '98 from the 68 million shares they say they now have outstanding, you get 20 million. This means in 1.5 years the total number of issued shares (i.e. not the float) has increased by a factor of 2.4! Given that "REVENUE - SALE OF GEMS FROM TESTING" for the six months ending 12/31/99 was a mere $27,706, and given that they had a "CASH BALANCE, END OF PERIOD" of a paltry $360, it seems logical ABFG has no choice but to continue issuing stock for cash. Does this sound like a company that has claimed to have gems literally washing up out of the ground?! - Jeff