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

To: SammyW who wrote (2520)	1/14/1998 11:11:00 AM
From: Prudent Investor	Read Replies (1) \| Respond to of 4276

Well, Well, Well, it looks like Ajay will have to come up with another scenario about the authorized shares being limited to 1 to 20. It looks like my math wasn't so far off, doesn't it? Offie previously reported the first convertible debenture for $1,250,000. The second convertible debenture for $625,000 is a brand, spanking new one, dated January 6, 1998. Although both of these placements state that the "offering is not concluded", don't be surprised to see amended filings stating that they are concluded. Why? In my opinion, because you see that in both cases « of the face amount of the placement has been committed. This would be approximately the net amount due to the company under the terms of the placement (except for the 2% unaccountable expense allowance). I am going to leave it to you RATIONAL people to figure out what that means. One thing I do know is that it means tremendous dilution at a very expensive price. Anchors Away. Prude