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Microcap & Penny Stocks : MTEI - Mountain Energy - No BASHING Allowed -- Ignore unavailable to you. Want to Upgrade?


To: Scott who wrote (7292)7/31/1998 12:14:00 PM
From: Cliff Daniel  Respond to of 11684
 

What happens when the SEC takes those 18mm shares out of the float?


Where do they take the 18 million shares from? Allegedly they have already been dumped on the market. Let's say hypothetically you own part of those shares right now. Can they just confiscate your shares?

Cliff



To: Scott who wrote (7292)7/31/1998 12:15:00 PM
From: Beantown  Read Replies (1) | Respond to of 11684
 
Scott,

Slow down, take a deep breath, and by no means ever, ever mention "rocket" again on this thread!! But seriously, yes, I think it would have nothing but a "good" impact on the stock price. Caution, I wouldn't necessarily expect 18 or 19 mil shares to be retired over night. This will go through litigation, and God only knows how long that will take. Keep in mind, you are talking about over 20% of the outstanding shares that could possibly be retired somewhere down the road. Wouldn't that be nice!

Beantown



To: Scott who wrote (7292)7/31/1998 12:17:00 PM
From: LT  Read Replies (3) | Respond to of 11684
 
What makes you think the SEC will remove shares from the float? The company, under some circumstances, can cancel the shares. Or the court can order them cancelled after a hearing. The SEC is looking into matters concerning the alleged valuation of assets belonging to MTEI.

I think were mixing apples and oranges here :)

LT