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

To: Steve who wrote (3841)	8/14/1998 10:24:00 PM
From: CHRISTINE	Read Replies (1) \| Respond to of 4276

From CALIFTALK Subj: Re: News Date: 98-08-14 15:59:48 EDT From: CALIFTALK To: Stkg1 The debenture holders were outside investors, clients of Secure Investments, that wanted the big profits. And accepted the big risk. They received up front a 20% discount and 12% interest and a 20% discount when converting. And the broker received 10% commission and 2% allowance for expenses. The money thus cost 52% dilution in cash and stock. Then they converted a portion of the debentures to shares, sold the shares and repeated the process. But one unexpected kicker was the fact that all along, a broker in Canada, kept selling shares and depressing the price. The seller was Burditt, using one of his alias company names, and avoiding SEC reporting requirements, and Oliver Timmins knew the truth and covered for Burditt. Everytime good news was announced they sold into the demand and depressed the price but were able to sell large blocks, and then the broker in Canada, wired the cash to Burditt's company, such as Phoenix Resources with a bank account in Texas.