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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: Deeber who wrote (53522)	2/9/1999 8:32:00 AM
From: Teri Garner	Read Replies (2) \| Respond to of 119973

BEAR bidding over $4 already...

To: Deeber who wrote (53522)	2/9/1999 8:49:00 AM
From: Kevin McKenzie	Read Replies (1) \| Respond to of 119973

Regarding BIGC: I'm not bashing, just trying to understand. This portion of the annoucement is a little disturbing. The shareholders of VillageNet and ICS are expected to be issued shares of the Company's Common Stock that will approximate 90 percent of the outstanding shares following the transaction, calculated on a fully diluted basis assuming (a) the conversion of the Company's outstanding convertible preferred stock at a conversion price of $0.48 per share and (b) the exercise of the Company's options and warrants that have an exercise price of $1.00 or less. Help me figure this out. Currently BIGC has 1.43 Million shares outstanding and 800 Thousand in the float. Therefore the float represents about 56% of the total ownership. According to the release, the VillageNet and ICS will own 90% of the company after the merger. Assuming the float will remain the same (800,000), BIGC will have to issue 6,500,000 more shares to achieve the 90% ownership for VillageNet and ICS. I'm not saying this is good or bad. Just interesting.