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Microcap & Penny Stocks : WestAmerica Corp. (WACC) -- Ignore unavailable to you. Want to Upgrade?

To: Rood_Dude who wrote (438)	7/30/1998 1:30:00 PM
From: JOE TURMAINE	Respond to of 749

Rood, this is a PM that I sent after my conversation with Dan Boyar the day before the last PR hit the wires. It is MY VERSION OF THE DISCUSSION and was originally a PRIVATE MESSAGE so hopefully, no one will take offence (except Zero the Flake) ********************************************************************* BeyondMail Form: Message Text: Jason, I asked very direct questions about the possibility of a reverse split. Dan acknowledged that it had been discussed at the board level and that there were strong feelings both for and against the concept. If the stock is moving up and is "strong" and the split is needed to elevate it from BB back to Nasdaq that's OK. If it's at a nickel and we do a 20:1 to bump it to a buck I'm sure it'll get shorted back to a nickel in a week. He did a lot of talking on the subject and I got the impression that the board more than him are inclined towards the RS. He did not state whether they had come to a decission on the matter or not, only that it was clearly insider information and he would not tell me. My feeling is that it will happen, if only to keep control of the company with the company. If they don't reverse treasury shares there is a major power shift, right now there are 60% of authorized shares issued, at 20:1 the 37 million drop to 2 million and there's still 13 million in traesury. That's only 15% issued vrs 85% in treasury. The project is far more important to Boyar than short term shareholder gain. IMO He said he had not responded to my emails & phone calls in the past few months because they were all looking for insider info. I think a lot of investors are a little two-faced. We all want info, we're not prepared to wait for news because we want it now!! When I posted the news yesterday the biggest concern was that I got the news and not the news. Thanks for acknowledging the 35 acre story. As for the financing, there is a hold up, but not a problem. It sounds like the "partner" putting up the financing had to raise the money. Whether it was mortgaging a hotel or selling his wife was not clear, but the money is in the bag, just couldn't get their hands on it in time. Should be available soon. BB listing is dependent on SEC filing so there will obviously be no intentional delay in filing. Unless Boyar flat out lied to me, I believe that we will do good on this. My price is still $0.25 and I don't know if I can afford to average down any further. I'm not sure where the line is between being confident and stupid. It feels like I'm walking that line. Time will tell if I'm on the right side.<< My email address is jturmaine@hydro.mb.ca or joetur@escape.ca for serious discussions on WACC I like to stay off the message boards as you can see by the latest poster on SI WACC.(my reference to ZtF)<< JOE