Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Kurt N who wrote (1774)	6/29/1998 4:43:00 PM
From: Dusty	Respond to of 7039

Kurt, thanks. Is Bardonics a special language? What about the Beneficiary as of June 28,1998? Beneficiary of what? Dusty

To: Kurt N who wrote (1774)	6/29/1998 10:23:00 PM
From: TJG	Read Replies (2) \| Respond to of 7039

Can someone explain/help/guide me on this one? When I read the statement that the LT was created "for the purpose of collecting all assets and satisfying all liabilities of Midland, Inc.", would this fall into that category? And if so what's the projected # of P shares vs the "assets" that are being recovered? In the event the Company is liquidated, dissolved or wound up, the Company is required to pay out of the Company's assets $21.00 per share of Series A Preferred Stock before any payment may be made to holders of the Common Stock. If the assets of the Company are insufficient to pay this amount, the assets will be distributed ratably among the holders of the Series A Preferred Stock. The Series A Preferred Stock also contains provisions that protect the holders against dilution by adjustment of the conversion price in certain events such as stock dividends paid on Common Stock and distributions, stock splits, recapitalizations, mergers or consolidations and certain issuances below the fair market value of the Common Stock. (source : 10-K filing 9/10/97) If the math is in the shareholders favor (RE: P's can be covered to their fullest amount of $21 or to a value above the current trading price) would it not create a need to buy more P shares, for that "just if" scenerio????? Or am I barking up the wrong tree here??? TJG