Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : 1ST MIRACLE GROUP (MVEE), founders last co. went $0.20-$46 -- Ignore unavailable to you. Want to Upgrade?

To: Leroyt who wrote (1428)	10/22/1998 6:06:00 PM
From: zookeeper	Read Replies (1) \| Respond to of 5541

I think they should use the 1.5 million to announce a stock buy back of 20 million shares, or 2/3 of the float, from everyone looking to sell at 7 cents or less. The base price for the stock would then be set, bringing confidence to other investors to bid it up from there, and the naked shorters would flee in droves due to the possible threat of a post-buyback cert call, driving the price up more. Therefore, they won't get anywhere near 20 million shares at that price, so they'll get to keep most of the money anyway. They have quality product to sell now. What they don't have is wall street support. An offer by any company to buy back 2/3 of their outstanding float will make substantial news, and that could bring the Wescott financing deal for 15 million back to life. If they can leverage this money to get that deal done, it would be a great day for us all. Well, at least all of us longs!