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Microcap & Penny Stocks : LENP.T (LXPYF-OTC.BB) Best story ever? -- Ignore unavailable to you. Want to Upgrade?

To: Micheal Stephenson who wrote (490)	3/22/1998 12:51:00 AM
From: Dan Turner	Read Replies (1) \| Respond to of 619

I finally received the annual report for 1997 AND along with it, first quarter 1998 numbers. This is the first I've heard that 1Q numbers were out. (Of course, we are now in Lenox's fiscal THIRD quarter.) The bottom line numbers: Net loss of $203,731 for the quarter, which is translated to $.031/share. (So, they are figuring the number of shares at almost 6.6M.) A note in the report: "Subsequent to the end of the quarter, the Company has received an additional $305,000 in cash from the placement of convertible debentures." It does not, as far as I can see, give any details on the terms of those debentures. It does, however, mention that Lenox received an additional $125,000 for convertible debentures issued in the 1st Q. FWIW. -DT