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

To: a. paisley who wrote (2847)	2/26/1998 9:16:00 AM
From: OFW	Read Replies (2) \| Respond to of 4276

OILEX FILES 8-K TO SEC: ANNOUNCES DEBENTURE The following is the full text of this morning's SEC filing. It can also be obtained from the following link: freeedgar.com ************************************************** ITEM 9. Sales of Equity Securities On February 19, 1998, the Company initiated a placement of 8% Convertible Debentures Due March 1, 2001, with U.S. entities, in the amount of $2,000,000 being sold at 100% of the amount of such debenture. The terms of the conversion rights are such that the holder of these notes may convert all or a portion of the principal and interest due, at any time, into common stock of the Company at a conversion price of $2.00 per share for each share of Common Stock. As of February 24, 1998, a total of $250,000 had been committed. This offering is continuing. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.Dated: February 24, 1998 OILEX, INC./s/ Oliver Timmins, IIIOliver Timmins IIIPresident *********************************************** Offie