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

To: Janice Shell who wrote (12865)	11/22/1998 2:40:00 AM
From: jhild	Read Replies (2) \| Respond to of 26163

There is nothing sinister in the paragraph that you are asking about. One on the requirements for filing a 10KSB or any SB form for that matter is that it qualifies for SB status. This statement merely qualifies AZNT as a SB, by it's declaration of the "float" as being less than $25,000,000 Let me quote from a discussion of S-B Regulations: Provided however, that an entity is not a small business issuer if it has a public float (the aggregate market value of the issuer's outstanding voting and non-voting equity held by non-affiliates) of $25,000,000 or more. Note: The public float of a reporting company shall be computed by use of the price at which the stock was last sold, or the average of the bid and asked prices of such stock, on a date within 60 days prior to the end of its most recent fiscal year. The public float of a company filing an initial registration statement under the Exchange Act shall be determined as of a date within 60 days of the date the registration statement is filed. In the case of an initial public offering of securities, public float shall be computed on tile basis of the number of shares outstanding prior to the offering and the estimated public offering price of the securities. http://www.law.uc.edu/CCL/regS-B/SB10.html What it does say is that the dollar value of the float is $2,888,602. On 11/10/98 with very little volume (an interesting and convenient coincidence for their purposes) the price was at .968/share, would indicate that there were 2,984,093 shares give or take in the float. The very next paragraph of the Form however is of greater interest, not just for what it says but what it doesn't say. It says that there are 13,022,502 shares outstanding. We learn further down that AZNT is trying to cancel 9,700,000 of this however. Which would leave the entire float as nearly all of the outstanding shares. At the very least we know that these 9,700,000 shares are considered by AZNT to be related or affiliated shares. But, what it fails to declare is that there is still a preferred class of shares and these are undeclared or accounted for here. These shares are not discussed, despite the requirements of the Form to list them at this point. Unless there has been some novel notion created by AZNT whereby, the shares get cancelled, but the voting rights remain, they should have been called out here. Something tells me that this class of shares has some sort of stealth features, but alas we will have to await further disclosure.