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

To: edward shapiro who wrote (2704)2/6/1998 1:29:00 PM
From: Ditchdigger  Respond to of 4276
 
My guess shorting against the block or converting and selling(or both at once).All those debentures with forty-five day restrictions are going off. There was a ton on Dec 23,1997-TODAY is the 45th day now fair game DD
PS: think there were some in early Nov.and early Dec. also.IMO these are from the 23rd, we'll see if these holders know how to play the game. A penny saved is big bucks for these holders,lots more shares when converting..I also think they can convert at a discount to the 5 day market price..



To: edward shapiro who wrote (2704)2/6/1998 1:59:00 PM
From: Ditchdigger  Read Replies (1) | Respond to of 4276
 
It's amazing,I just double checked the calender,and this is the first day they can convert from the Dec.23 debentures-to the day.(they didn't waste any time)This reverse split IMO opened the door wide for abuse..a classic set-up..DD
PS: the result could be a doubling of outstanding shares(considering before the split)-net effect..(bid@.46)you are now watching history..


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