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Microcap & Penny Stocks : IFTA (formerly IFTP)... Possible short squeeze?? -- Ignore unavailable to you. Want to Upgrade?

To: Alastair McIntosh who wrote (2)	6/30/2001 7:01:32 AM
From: RockyBalboa	Respond to of 5

<...perhaps we are having a reverse squeeze? ...> You're too funny... If you want to have a good read, read: sec.gov On March 13, 2001 (amended March 19, 2001 and April 27, 2001), the Board of Directors of the Company, pursuant to the authority expressly granted to it in the Company's Amended and Restated Articles of Incorporation created out of the 10,000,000 shares of the preferred stock of the Company authorized in Article III of the Charter, a series of 6,100,000 shares of Series B Preferred Stock (the "Series B Preferred"). Each share of the Series B Preferred is convertible into twenty (20) shares of Common Stock at a price per share equal to the lesser of: (a) a 30% discount from the closing bid price on the date of the issuance of the Series B Preferred, or (b) a 30% discount from the lowest closing bid price during the twenty (20) trading days immediately prior to the conversion. Price? Dumb Money, smart money... On March 14, 2001, the Company sold 2,000,000 shares of its Convertible Preferred Stock, Series A, at $1.40 per share for a total value of $2,800,000* to Thomson Kernaghan.* But: On March 14, 2001, the Company sold 6,100,000 shares of its Convertible Preferred Stock, Series B, at $0.00164 per share for a total value of $10,004* to Gorda Private Investments, Ltd.* The costs for the printing services for the certs must be higher than the revenues from selling this convertible.