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Microcap & Penny Stocks : Tokyo Joe's Cafe / Anything goes -- Ignore unavailable to you. Want to Upgrade?

To: Gogo@SI who wrote (5007)	4/7/1998 4:30:00 PM
From: eric deaver	Read Replies (1) \| Respond to of 34592

<<Does the company has the right to call the warrant and the owner of the warrant must exercise or is it possible to hold the warrant and exercise it at a higher price?>> You can not hold warrant after XX (usually 30) days after the company calls warrant. Must exercise at that point. <<Finally, as far as I know, as a holder of a warrant you can sell it any time before exercising. Not necessary to wait for the company to call. Right?>> Right Please be aware that I spoke to two people in the IR company (Ted & Doug). Ted gave me answers closer to Andrews and Doug gave me higher call and strike prices. I believe Andrew probably spoke to Ted and Ted is likely correct. Also Ted told me initially that strike price was 125% of IPO price and call price was 200% of IPO price (which would match $6.25 & $10). It is all in prospectus which is on its way to me. I will post quote from it when I receive. Eric

To: Gogo@SI who wrote (5007)	4/7/1998 4:43:00 PM
From: Andrew H	Respond to of 34592

>>Just looking to the different information people got by calling this telephone number makes me nervous.<< Yeah, it made me nervous as well. Nothing like calling yourself for the answer. My answer checked with Steve's so I am confident it is correct. I know Steve does high quality, accurate work. >>I have one further question. Does the company has the right to call the warrant and the owner of the warrant must exercise or is it possible to hold the warrant and exercise it at a higher price?<< Once the company calls the warrants, you have a very limited period of time to exercise it. If you fail to do so, there is a "par" value, which they will pay you. From what Joe was saying, the par value on IFLYW may be .05/warrant. On many warrants the value is .01 or one penny. In such a case you cannot exercise the warrant after the time period allowed by the company has passed. >>Finally, as far as I know, as a holder of a warrant you can sell it any time before exercising. Not necessary to wait for the company to call. Right?<< Yep. As long as the company has not called the warrants, you can sell them at any time, as long as someone wants to buy them. Once they are called, you will most likely still have a short period of time to sell them on the open market, but you don't want to dawdle!