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Microcap & Penny Stocks : IDCN - gold, garnet, etc. -- Ignore unavailable to you. Want to Upgrade?

To: Harry_Behemoth who wrote (4951)	1/24/1999 8:39:00 PM
From: VBroady	Respond to of 5908

Sorry, Dogbreath, no - I don't have any information on which company IDCN is referring to, and I haven't asked. Everyone will know in the next few days. vb

To: Harry_Behemoth who wrote (4951)	1/25/1999 3:05:00 AM
From: Gordon Gekko	Read Replies (1) \| Respond to of 5908

* My interpretation on the recent announcements. * I was absolutely astonished to read that IDCN was basically planning to spin off their current operations into 2 new stocks and to merge the resulting shell into a $500M company. Talk about a complete shock. This is what I see happening in the next month. 1) An announcement of the merger with some large Californian company. 2) Two dividends to current IDCN shareholders representing the former operations of the company. I expect one dividend for the gold operations and the other being the garnet and other minerals. These dividends will be on a one for one basis. This fact is critical. 3) After the dividend IDCN will essentially be a worthless shell. This is where the reverse split and reverse merger come into play. 4) IDCN has roughly 47M shares outstanding. They will issue 453M shares to the merging entity. This will give the former IDCN holders a 9.4% stake in the new company with the remaining 90.6% representing the merging company. 5) A 1:10 reverse split will then be initiated on this new company bringing the outstanding shares down to 50M. This is how IDCN gets the $10 per share in sales listed on their web page. The ownership percentages will still be the same. There will also be a name change. The fact that the dividends are occurring before the reverse split is critical. Our equity in the current IDCN will remain the same. One current IDCN share is equal to the 2 dividends. Don't let the reverse split cloud this fact. We are losing nothing in this deal. Our ownership percentage and share amounts pertaining to the current IDCN operations will remain the same. We are also receiving a 9.4% stake in this new company. This is nothing to sneeze at. Example: Someone currently has 100,000 shares of IDCN. After all of the above has occurred they will have the following. 100,000 shares of dividend "A" (Gold properties) 100,000 shares of dividend "B" (Garnet, other properties) 10,000 shares of the new company Existing IDCN shareholders are losing nothing in this deal, but are in fact gaining a tremendous amount. We have the mineral properties being split up so they can be valued properly plus an ownership stake in the new company. Potential dividends in February, this new $500M company, Isaac's Harbor mining in April and a possible short squeeze could set us up quite well in the very near future. If all this pans out, the drinks are on VBroady. :) GG