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Gold/Mining/Energy : Global Thermoelectric - SOFC Fuel cells (GLE:TSE) -- Ignore unavailable to you. Want to Upgrade?

To: Ciao who wrote (30)4/14/1998 8:55:00 PM
From: Stephen O  Read Replies (1) | Respond to of 6016
 
It is one share - one warrant so when warrants are exercised there will be another $3+ million in the kitty and they don't need all the money now surely. Many clients don't short. They wait for their confirms and see how the stock goes. Sell the stock and they have free warrants + cash in their accts.



To: Ciao who wrote (30)4/14/1998 9:12:00 PM
From: Robert van Mil  Read Replies (1) | Respond to of 6016
 
Ciao, in the amendment news release they state: " The Amendment will result in the offering being changed to a
minimum of 2,222,222 and a maximum of 3,333,333 Units at a price of $0.90 per
unit for gross proceeds of $2 million to $3 million."
So it would appear that it was fully subscribed.
The reason cited for the amendment was marketcondition. I'd say that was a case of poor timing.
All the best, Robert


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