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Microcap & Penny Stocks : Zulu-tek, Inc. (ZULU) -- Ignore unavailable to you. Want to Upgrade?

To: aleta who wrote (12422)	8/23/1998 4:47:00 PM
From: Jon Tara	Respond to of 18444

"OK then there are approximately 12M shares of ESVS outstanding of which 3M are in the float, leaving 9M to be used in the conversion." More of this wacky math. Maybe it works this way on Pluto, but not on Earth. "The float" is simply the number of shares that are not closely-held. As such, it's an ambiguous number. the float is an arbitrary number which can NOT be precisely determined. The float consists of those shares that are freely-trading, and we can never know that number. Which shares are closely-held? Well, those shares that are not registered (restricted shares) are definately not in the float. Shares held by insiders are generally excluded from the float - thus Bill Gates' shares in MSFT are not in the float. Are shares held by mutual funds in the float? This is where it gets dicey, and you will get varying opinions - if they are held for long-term, some people will exclude these from the float. In any case, the float has NO bearing on any conversion! Any conversion will involve ALL shares issued and outstanding. If there are 12M shares issued and outstanding, that is what will be used in the conversion.