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Microcap & Penny Stocks : Amazon Natural (AZNT) -- Ignore unavailable to you. Want to Upgrade?

To: bmart who wrote (795)	8/22/1998 8:14:00 PM
From: wonk	Read Replies (1) \| Respond to of 26163

bmart: Thank you for your response. My understanding is that all common stock to principal shareholders was cancelled. In truth, I could perform more diligence and give you a better answer very soon. For now I will say that I know that the principals agreed to cancel several million shares of common stock, and to issue preferred. The fact that the principals "agreed" to do this is one of the things that has me concerned. Even if this proposed plan is not illegal, it certainly appears to qualify as "self-dealing." What if the preferred is participating,voting and has conversion rights? Then for all purposes the preferred stock is exactly like the common except for the fact that the preferred has a liquidation preference. If I was a shareholder I would be livid, contacting my lawyer, or both. Perhaps you can do some digging yourself and we can compare notes. I have briefly reviewed all of this company's SEC filings and the lack of information is troubling, if not indicative of something far worse. ww