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Gold/Mining/Energy : AMCG (The American Group Inc.) -- Ignore unavailable to you. Want to Upgrade?

To: DesertRat1 who wrote (15)	3/15/2001 9:56:05 AM
From: DesertRat1	Read Replies (1) \| Respond to of 21

Could be exciting times coming soon to AMCG. Here are some of my thoughts that I posted on the RB board: dspman, No, it hasn't gone belly-up. Here is my educated(LOL) guess at what is happening: AMCG has a convertible loan due at the end of March (see my post #625). It converts at a rate of $0.25 and was for $643,283. So, someone who loaned the company the money will probably receive about 2.7 million shares of the company's common stock on by Monday, April 2. I base this on the principal amount plus interest. (I doubt they will pay back the loan in cash). What this means to us it the outstanding share count will go from about 1 million, to about 3.7 million. The big questions are, 1) Is the convertible note "floorless"? (I believe not according to the text), and 2) Is the note holder desperate for cash at the moment and will he/she dump some or all of the shares? The best case would be if the company is purposely not releasing any new news until after March 31. They might be doing this so that they (the co.) AND the note holder can participate in any rise in the price based on new news. IMO, if there is any news to report, it will be done in April sometime. If in fact the O/S count goes up to 3.7 million, and there is no news, the company's share price will probably settle around $.20-.25. The worse case would be about $.14, the best case (with news) would be around $.75. It will be interesting to see how accurate I am. I'm learning as I go ;) D Rat