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Microcap & Penny Stocks : Universal Medical Sytems (UMSI) -- Ignore unavailable to you. Want to Upgrade?

To: HRAKA who wrote (523)	12/12/1997 7:35:00 PM
From: HG	Respond to of 1672

To All, I apologize. I made a big, big mistake today. As I posted earlier I bot 10,000 today. I should have known better. My purchase should have been 12,000. Why? Today was Dec. 12. That would have made my buy 12,000 @.12 on 12/12 guaranteeing something. You see. I told you we're all nuts. And I just may be nuttier than anyone. Have a great weekend everyone. HG

To: HRAKA who wrote (523)	12/12/1997 7:52:00 PM
From: GeneM	Respond to of 1672

Fellas: the impression that I got was that the financials have been submitted, but would be filed this month; Baker didn't say anything about Monday. Also, I got the impression that they would not be "earth shattering", but would indicate a stk. value significantly higher than is being presently reflected. Someone posted earlier that they could not understand why Select would loan the company that kind of money. First, I don't believe anyone knows the terms of that agreement as of yet; second, from what I could glean, the company gave up far more than it received. The way these deals work most of the time is: the chop house [Select] might have a home for the stk. immediately, or may merely be distributing it to other chop shops or brokers. All of that is done at a premium to the acquired price. Once the stk. is turned over, or shorted against the block (at a profit), the cash is rolled over to the company. The volume in this company's stk. would permit either action. So, in essence, the company has actually financed itself by doing something that it legally could not do (i.e., issuing more stk.). Remember, the stk. and debentures given to Select were lettered [144 shs.]. They then can do things with it that the company could not [i.e., sell it or short it against their block]. The only way actions such as this can be prevented would be for everyone buyer to request possession of their shs.. That is the reason that Cartels have at times had such dramatic effects. In a Cartel, the main objective is for all shareholders to request their certificates; although, many times they can be viewed as an illegal attempt at price fixing. GeneM