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Microcap & Penny Stocks : Rande Is. . .FISHING. . [under $1.50] -- Ignore unavailable to you. Want to Upgrade?

To: DMcMannes who wrote (943)	3/5/1999 12:44:00 PM
From: NoWhereMan	Read Replies (1) \| Respond to of 4766

Dale, Par is the face value of the preferred share, I think it is usually something like $100. It's like a book value, used for accounting and is the amount that dividends are based on. Dividends are paid out on preferreds before common, but Preffered usually has not voting rights. But then with Playco not showing a profit right now there are no retained earnings to pay a dividend from, so It's kind of a moot point right now. I'm concerned about that par too. My understanding of preferred stock is that it usually does not appreciate as well as common, (It's a little less volatile), and big companies like to buy it, since dividends aren't taxed like regular income. anyway, I'm really concerned about the Par value thing, and I will try to see what the CO. will say about the shares first. It would be nice to have a copy of the "fine print" as it applies to these preferred shares first. robb

To: DMcMannes who wrote (943)	3/5/1999 12:55:00 PM
From: Rande Is	Read Replies (1) \| Respond to of 4766

Welcome to the FISHING thread, Dale. Best to go back and read as many of my general posts as you can find. . .here and on the HOME thread. . .there are volumes of tips and lessons about the way the trading world really works. . or as best as we are able to figure out. Par value represents the initial value of the company with respect to each share issued. For instance, if you start a company with 1,000 dollars and you issue 1 million shares, then the shares would carry a par value of .001. Every stock is different. . .but most are .01 or less. Pick a half dozen companies, then check their SEC filings and look up the par value of the common stock. Now often the preferred has a greater par value than the common. If I am not mistaken the PLCO common par value is .001, whereas the pfd is .01 [10 times more at issuance]. That is why they are willing to convert the preferred into so many commons. Glad to have you here, Rande Is

To: DMcMannes who wrote (943)	3/5/1999 3:39:00 PM
From: Uncle Skippy	Read Replies (3) \| Respond to of 4766

I'm the same as Dale. I first came over after hearing about the Whiz Kid, then somehow I found this string. I'm VERY new to trading, so I'm learning as I go. However, I feel that I'm already doing SOME things right... 1) I've set my Webstreet account up, and I've only put in the amount of money I can afford to lose 2) I've taken Rande's advice about stocks that don't register with the SEC, or are from certain parts of the country However, I've already gotten burned once (I think) by IRTG. Somebody posted some news about it here yesterday, I saw it less than 2 minutes after it was posted, and I thought to myself "Great! I'll get in and get back out in a hurry!" Well, I got in at .73, and at last check it's down to .5468. Oh well, it's my first lesson learned... <G> Anyway, I also want to let you know that I appreciate you and the others who post here regularly. I hope you won't mind me asking rookie questions... <G>