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

To: TraderGreg who wrote (4227)	6/26/1998 8:47:00 AM
From: John S. Baker	Respond to of 4783

Your analogy of "musical chairs with bargaining" tells it well. And, in practical terms, this is how "new shares" can eventually be substituted for "old shares" even if the substitution is not made by the Transfer Agent.

To: TraderGreg who wrote (4227)	6/26/1998 8:53:00 AM
From: blash	Read Replies (1) \| Respond to of 4783

TG...Thanks. I'm still trying to run this scenario through my head to try to understand it. This seems to be a "magical" solution where a tangible item is created out of thin air. If the Naked short position truly exists (particularly to the magnitude that some have guessed) and if RA wants to flush it out with the name change, then an "unbelievable" frenzy is about to occur.

To: TraderGreg who wrote (4227)	6/26/1998 8:58:00 AM
From: Richard Mazzarella	Respond to of 4783

Trader, the change in certs should end the naked shorting, agreed. I have been buying this stock for that event, however I'm a little concerned that the market isn't anticipating it in the stock price. Even the MMs should be covering at these lower levels. This has me concerned that there may be a "gimmick" in the conversion to the new company. Is everyone certain that we will get one share of the new company for every share of the old? Is there a hidden reverse split going on? Anybody have the answer?

To: TraderGreg who wrote (4227)	6/26/1998 9:02:00 AM
From: Gilbert Drapeau	Read Replies (1) \| Respond to of 4783

IMO: If there is 100 owners of legitimate shares and 200 owners of shorted shares, the MM's can try to buy back the 100 legitimate shares but they can also try to buy back the 200 shorted shares and thus cancel the illegal shares. Gil.

To: TraderGreg who wrote (4227)	6/26/1998 11:48:00 AM
From: Chris Holdsworth	Read Replies (4) \| Respond to of 4783

1) Are the PKGP shares going to be tradeable after the 1st? If not how does a PKGP shorter even cover during his 3 day or 30 day extension? Wouldn't PKGP shares have to be tradeable after the 1st in order for someone to sell them to a shorter so he/she can cover? 2) Does anyone have any idea as to how long it would take for the TA to call in all the shares and reissue the new ones? Would trading be halted, frozen, or just impaired during this time? Long... Thanks in advance