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

To: Steve who wrote (2910)	3/7/1998 8:58:00 PM
From: Richard L. Williams	Respond to of 4276

Steve-- So, your claim is that Oilex is the victim of illegal shorting. Hmm. If that's true, we should all start buying like madmen, and "Get Shorty!", right? I'd like to call the transfer agent first on Monday, and see what the current share count is before I fall for that line. While I don't put anything past the MM's, this seems to be an awful risk that they're taking. MM's like to minimize risk. One little phone call can settle a big question, too. Offie, what's the TA's number again? I can't seem to find that post. I appreciate your opinion, Steve. BTW, you still didn't tell us how you came to the conclusion that the debentures are not being converted. Cheers! Rick

To: Steve who wrote (2910)	3/8/1998 11:12:00 AM
From: edward shapiro	Read Replies (1) \| Respond to of 4276

Steve >>> The other volume must be illegal trading by MMs and other shares being shaken loose. Please stop with the conspiring evil MM's illegal naked shorting destroying our share prices routine. Management did it to us, not some market manipulated conspiracy. Why does everyone forget that the MM is also there whenever we want to sell our stock. We may not like the price we are able to get, but the MM is willing to pay us. (and no I am not an MM before you start jumping to conclusions.) If you don't like the system, play on the NYSE and stay of the BB. As for shares being shaken loose, I can't see it. When the company did the 1:20 split, there were about 45 million shares outstanding, therefore about 2.25 mil after conversion. Insiders held more than half the stock. This would leave about 1 million shares free trading. Some people sold at the split and others just held. Now there are more than 3.5 mil shares by your estimate out there. I think there are many more. These extra shares did not appear out of thin air. The new shares along with some traders are responsible for all the volume we are seeing. Most people who held on for this long a time, have continued to hold. A few more cents of decline is not shaking out any shares from long term holders. My shares will never be shaken. I also don't see the insiders selling now. If the insiders are selling, then things must be worse than we could ever imagine. We are in this until it goes all the way up, goes to 0, gets sold or we need to offset gains for tax purposes. ed