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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme -- Ignore unavailable to you. Want to Upgrade?

To: Sandra who wrote (7503)	7/14/1998 12:52:00 PM
From: Bucky Katt	Read Replies (1) \| Respond to of 8798

S--I trade that one all the time. It trades well! An AMEX that swings like a Nasdaq! Crude is up today, and the transports are WAY up today. Makes no sense, except opitions expire real quick. Here is the regS for ITEX>>On April 3, 1998, the Company closed the sale of 53,500 shares of Series A Preferred Stock to a small number of non-U.S. persons (as defined in Rule 902 of the Securities Act of 1933, as amended) located outside the United States in a non-registered private placement pursuant to Regulation S under the Securities Act of 1933, as amended. The Company realized gross proceeds of $5,350,000 and net proceeds, after costs, totaling approximately $4,800,000. The purchasers of the Series A Preferred Stock agreed not to sell more than 50% of the common stock received upon conversion until at least 75 days after the closing date. The Company has granted registration rights, under limited conditions, to the holders of Series A Preferred Stock. The primary use of the proceeds is for the acquisition of the remaining 50% common equity interest in Business Exchange International, Inc. This was a real dumb move.