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Microcap & Penny Stocks : Airstar Technologies, Inc. (ASTG) -- Ignore unavailable to you. Want to Upgrade?

To: saclac who wrote (1433)	2/3/1998 5:26:00 PM
From: Financial Internet Group	Read Replies (1) \| Respond to of 3967

*Response from Joe Lanza* Saclac, I think there were 8 million common shares, 1.2 million Pref. A, and 4.3 million Pref. B as of Dec. 31st 1995. 445,000 504 shares, 850,000 Pref. C and 20 Pref. D shares were issued in 1996. Remember Xecom had to put up 25% of all the cash spent on the bases and these shares were used to raise that cash. A Pref. was 11% B Pref. was 10% C Pref. was 10% D Pref. was zero coupon Joe V has been trying to get all the preferred shareholders to convert so as to lower the interest cost to the company. All the A has converted, part of the B has, part of the C has, and now we know some of the D has converted. That accounts for the increase of stock. However, I don't believe that the fully diluted number has changed - unless it's gone down a little. Indian Wells Investment turned 880,000 Pref. B then 700,000 Pref. B back to the company in 1997. I know these figures are rough but I think I'm pretty close to the target. That was a good question. I hope I've answered you fully. Joe L. P.S. I think Joe V has saved the company around $350,000 in interest expenses this past year by getting preferred shareholders to convert.