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Microcap & Penny Stocks : MGMA is in a position to make you a lot of money -- Ignore unavailable to you. Want to Upgrade?

To: UCLAlumnus who wrote (106)	3/8/1999 5:26:00 PM
From: Walter Morton	Read Replies (1) \| Respond to of 175

MGMA is as smart as you UCLAlumnus. They convert the Series A preferred at 80% of the 15 day average and they announce that they too are going to buy back share because MGMA is undervalued. That may be so, but MGMA is also buying the stock now because MGMA knew that the conversion would cause the price to drop. Average volume has only increased by about 200,000 since the announcement on March 3, 1999. There are approximately 800,000 shares all together. I think there are another 500,000 to 600,000 shares still waiting to be converted. If I understand this correctly, the price could continue to fall based on a moving average price over 15 days. I could be wrong, but in any case shareholders should be glad that MGMA is buying back shares. That will help reduce the dilution to the share value. It's also good that Fanzine is profitable. Message 6310869