Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Steve who wrote (2897)	3/7/1998 2:20:00 PM
From: Richard L. Williams	Read Replies (1) \| Respond to of 4276

Ah, OK, Steve! The share count is all guesswork, based on conjecture. Look at it this way, though... We started after the reverse split with ~2.5 million shares and a share price of .80 as I recall. The last share count that OFW got from the transfer agent was around three weeks ago, and was near 4.5 million shares when share price was near .40. In three weeks, the share price for OLEX has dropped around 50% on heavy volume. It doesn't take a Sherlock to deduce that more of the debentures have been converted. Here's the guesswork: The last two debentures that I recall were relatively small...around $650,000 and $125,000. At at 20% discount on the stock that means the $650k deb was worth roughly 2.5 million shares (650,000/average share price of .25), and the $125k worth around a measly 625,000 new shares (125,000/share price of .20). So, after deduction and guesswork, I see around 7.5 million shares out right now, with the outside limit being 10 million for my lousy math skills. So, while I have no facts on hand, I do know the track record of this company, and can smell its spoor. Do you think I am being unfair? Tell you what...I'll go through the thread here and find the phone number for the TA, and call him/her on Monday. I'll then post the current share count, and we'll see if I was in the ballpark. What do you want if I am wrong? What do I get if I am right? Whatever, it's a long road back up for this stock. Cheers! Rick

To: Steve who wrote (2897)	3/7/1998 2:35:00 PM
From: edward shapiro	Respond to of 4276

Steve, The amount of outstanding shares is only a guess until all conversions are finished. Here was Offie's summary of all debentures filed up until that date Message 3384353. I think most of these had conversion dates 45 days after the issue date, but I don't remember. The last debenture issued on 1/28/98 is probably not convertible until 3/13. Go calculate all of these debentures out and you will find your shares outstanding. Notice some of them have conversion rates of 65% of the current share price and some of them are at 80%. Why would you believe what the company says about shares outstanding if they have not been truthful about things in the past? ed