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Microcap & Penny Stocks : MIDL .... A Real Sleeper -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Harrington who wrote (1771)	6/29/1998 4:44:00 PM
From: Kurt N	Read Replies (2) \| Respond to of 7039

May 9, 1997 -- 10k .... The Series A Preferred stock will automatically convert into thirty-five shares of Common Stock on October 1, 1998. If the Company fails to have $300,000 of pre-tax earnings for the twelve months ended June 30, 1997, exclusive of extraordinary and non-recurring items and, upon such failure, the Common Stock does not trade for at least $2.50 for ten days between June 30, 1997, and August 15, 1997, then the Company will declare a dividend on each share of Series A Preferred Stock of one-tenth share of Series A Preferred Stock and five Series A Warrants. The Company will declare a similar dividend on the Series A Preferred Stock unless the Common Stock trades above $2.50 per share for 20 consecutive days after August 14, 1997, but before August 15, 1998, and the Company fails to have pre-tax earnings of $450,000, exclusive of extraordinary and non-recurring items. .....