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

To: OFW who wrote (2467)	1/13/1998 11:29:00 AM
From: Richard L. Williams	Read Replies (2) \| Respond to of 4276

Thanks, Offie... Hmm, kind of a good-news, bad-news filing. One Reg-S is completed, the other isn't. Not really, though. It's as we had feared. The Reg-S was going to bust the share limit ceiling, so Oilex did a reverse split to allow the debenture holders to fully convert. So much for maximizing shareholder value. What is surprising me is that the share price has held up yesterday and today as it has. All I can guess is that the split has not become really effective yet, so the debenture holders (those shadowy "non-U.S. entities") will have to wait a bit before getting their pound of flesh. Thanks for giving us this info, Offie. Rick