To: Loren S. who wrote (324 ) 8/30/1998 12:42:00 PM From: WEBNATURAL Read Replies (1) | Respond to of 618
There are 141 pages to go thru on the last report SB-2 I'm going to go back and do a more indepth pass for more info but in answer annd in addition to a question from you... A closer look at preferred to common convertables past and present is in the works.How the shares from the 'Island are added are still of interest. How shorts are affected as Jens mentioned on those shares and others will be of interest,too ***** In the Edgar report as of 7/31/98 (pg38)1,867,661 shares were already there. The 8/24/98 prospectus (same SB-@ report...pg 3) shows 8,045,444 common shares were available. The preferred shares the guy owned in the 'Islands' were converted into common. If these are part of the 8 Mil. then he figured he'd have a better chance on the open market long or short term (with the 30% discount). That in itself give me pause to think about a increase in the near future in our stock prices. If he plans to dump them he would lose money, right. Or can he do anything in the shorting area since he has control of about 3 million shares? All of the 5,394,343 (pg.40)outstanding shares of the company's common stock are freely tradeable according to the report. The report in the same paragraph gets into "sales of substantial amounts of common stock in the public market, or the perception that such sales may occur, could have a material adverse affect on the market price of the Common Stock". Also the sales(same paragraph) would delute "the voting power of Common Stock purchased in this offering". It appears that anyone signing their names to this report would know that we who read it see that those people are being watched by the stockholders. I would think all this is being considered by management before and as we discuss this report. Knowingly diluting a stock is very important to all from leaders to stock holders. A person in charge should have a good reason. I hope that the earnings report and future days in the sales would show this. I would hope that the new man from Boston is busy with our current leader moving us back as they say. One new store in 6 months as shown in the report can be bad as well as good. I would expect for a better report to show on earnings with updates on more openings. I plan to buy more shares after the opening bell and will be interested in the future brought in by current management.