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Microcap & Penny Stocks : OILEX (OLEX) -- Ignore unavailable to you. Want to Upgrade?

To: CHRISTINE who wrote (3835)	8/11/1998 3:11:00 AM
From: CHRISTINE	Read Replies (1) \| Respond to of 4276

Some questions I had for Califtalk : From: CALIFTALK To: RSKEET CALIFTALK: Burditt spent all the cash and left nothing to cover payables RSKEET: Is there a chance to avoid chapter 11 ? Can the creditors give you more time? Can an agreement be worked out? CALIFTALK: Will the shareholders be willing to share prorata the need to raise one million new cash in a rights issue I will advance my equal prorata share RSKEET: Is that a choice instead of Chapter 11/ CALIFTALK: Yes a reasonable choice CALIFTALK: Then the positive potential of the assets can be developed without dilution CALIFTALK: each shareholder will get his prorata share RSKEET: It is not an easy choice. I guess it depends on how much they trust you and new management. CALIFTALK: Because if one shareholder or so called debenture holder adds the money, then they take too big a share and that causes dilution. (End of IM) In my opinion: I along with the rest of you have many questions, at least there is someone willing to address our concerns the best he can in this aftermath of DECEIT. As far as old management is concerned they did absolutely nothing for the shareholders. Anyone still defending old management in any way makes me suspicious. Good luck Christine