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Microcap & Penny Stocks : PKGP (Packaging Plus) -- Ignore unavailable to you. Want to Upgrade?

To: Cannon who wrote (1457)	5/14/1998 7:12:00 PM
From: JOHN E.DAGGS	Respond to of 4783

Have been piddling with PKGP for a few weeks/months as a teaser. It will have to go some to beat the suspense of CVIA or UVEWD/CRTM & TWTI. All have read like a novel, and are very interesting to follow as long as you have a small amount bet on them. I am pulling for PKGP to do something positive, but I do for all the others too. I do not trust the CEO of PKGP any further than TWTI or CRTM, so PKGP merits very close attention over the next few days. It has a chance to pop, and a few days of reading suspense novels make the time go by. I could go back a few years and add GRAR to this infamous list

To: Cannon who wrote (1457)	5/15/1998 4:15:00 AM
From: John S. Baker	Respond to of 4783

> I'd just like to hear more about the warrants, how many per share, when are they in effect etc. < The short answer is that there is no fixed conversion rate. The conversion rate is a function of the market price of the shares. Hence, the lower the share price, the greater the number of shares the holder gets upon conversion. As a result, it is in the best interests of the holders to drive the stock price down as far as possible before actually converting ... perhaps through shorting the stock. Some people use the term "floorless convertibles" to describe this type of financing, though there are other less-pleasant names too. There is a specific thread here on SI which discusses these issues on a regular basis. This hotlink will get you into it. Message 4443822 IMHO until this issue is resolved, PKGP's stock will have a cloud over it. (Note that management has been reported to be saying that this issue is addressed, so words to that effect.)