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To: TraderGreg who wrote (363)6/30/1998 2:07:00 PM
From: Coolbreeze  Respond to of 2493
 
TG -- I agree, but stupid me when I had Barbara H. on the phone I forgot to get into detail on this very important fact. I am waiting for another return call. I also am going to ask if the authorized is remaining the same and how much dilution we should expect with the Skynet deal!!

CB



To: TraderGreg who wrote (363)6/30/1998 2:12:00 PM
From: MMpro  Read Replies (1) | Respond to of 2493
 
That's the OTCBB world for ya! Always a surprise waiting just around the corner. Seems that the OTCBB will soon surpass even the VSE as THE exchange for reaming investors(speculators?).

Is is possible that the illegal conversion of those debentures off-shore caused the O/S shares to reach the 100 Million mark, with PKGP management unable to do anything about it?

Peace

Riccardo



To: TraderGreg who wrote (363)6/30/1998 2:12:00 PM
From: Jon Scott  Respond to of 2493
 
My guess is the additional shares automatically became authorized with reverse split. Some careful overnight timing of share introduction probably took advantage of some loophole- if legal?
I'd be extremely cautious of anything until some concrete facts were issued.
Just beware the shoes



To: TraderGreg who wrote (363)6/30/1998 2:18:00 PM
From: Bill Monahan  Read Replies (2) | Respond to of 2493
 
A REG S debenture conversion IS a way to increase the number of authorized shares without shareholder consent.