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Microcap & Penny Stocks : MNTG... MTR Gaming.... Let's Go To The Races.... -- Ignore unavailable to you. Want to Upgrade?

To: Robert L.Stone who wrote (161)	2/21/1998 11:59:00 AM
From: Jay Mowery	Respond to of 645

Bob & Bob, I looked through the 8k. The general jist of it seems to be ammendments to the previously existing loan stuff MNTG already had. They appear to be ammendments to the Warrant Prospectus. The warrant prospectus being a type of side deal to obtain more financial backing. If I remember my stuff on warrants, They work kind of like preferred stocks. The warrants are there to secure the loans but won't affect the common stock price, but they can be exercised and turned into common stock under certain conditions. I believe also, should MNTG go broke,(which I seriously doubt). The people holding the warrants get first shot at getting their money back. At any rate the whole thing simply looks like ammendments to an already existing deal, from '96 or '97. I also think these are subject to periodic review and change based on how the company is doing. It also looks like the ammendments allow for MNTG to increase their loan limit with these investors. This appears to be positive as it indicates they are making money. Also, it adjusts interest rates on the loans. When I mentioned in the other post about them being listed as a REIT(Real Estate Investment Trust). The wording in a great deal of this material seems to be along those lines, with regards to property and such. Basically it appears to be routine business stuff. The part about selling the shares on the open market and recieving comissions etc...Sounds as though, should this happen. They underwriters would start pushing the stock which would drive the price up as underwriters want to make money too! Just my take on this thing. I think at present everything happen to MNTG at this point is based on the fact that it's profitable! Best to ya'll, Jay