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Microcap & Penny Stocks : Corporate Vision (CVIA) -- Ignore unavailable to you. Want to Upgrade?

To: Playin my Cards who wrote (4722)	5/9/1998 11:04:00 PM
From: paulbk	Read Replies (1) \| Respond to of 6654

Playing, The reg-s works like this- "offshore" investors (oftentimes onshore investors working through offshore accounts- who else would know about CVIA?) lend the cash to the company,in this case 1,150,000.00 less placement fees. ( So the net here is 1 million).One third of the debt is due 6/8, 30 days from now, payable in stock converted at 70% of the average of the closing bid price 3 days prior to conversion. So say that average is .01 that means they convert $383333.00 into stock,roughly 55 million shares at those prices. This will all be pegged to the reverse which will happen before these conversions take place I suppose so I don't know how to figure the ultimate damage. CVIA gets no more money out of this placement, to answer your other question. It's important to note that someone has already taken $150,000.00 off the top of this thing (as they undoubtedly did the last time). So while we've all suffered losses the ones who placed this offering-which also seems to be floorless- are home thinking of ways to spend $150,000.00. Gee, is that person soon to be the CEO of this splendid new,ever-merging corporation? Again,the worst thing about this,other than the usurious conversion rate, is this floorless aspect. The lower the share price, the more shares owed to the convertible note holders. But,most likely,private investors are waiting in the wings with cash waiting to buy up this conversion as well since they somehow missed buying up the last one. regards,p.b.