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Microcap & Penny Stocks : THNS - Technest Holdings (Prev. FNTN) -- Ignore unavailable to you. Want to Upgrade?


To: Radim Parchansky who wrote (11360)3/11/1999 8:54:00 AM
From: Tom C  Read Replies (1) | Respond to of 15313
 
The co. has also mentioned possible buyback of shares, so to reduce float.

Either you or this company are shameless. Why would they file for a secondary offering of 3M shares plus warrants and promissory notes and then turn around and buy back shares? Did you read the SB-2?

Shares of Common Stock 3,000,000
Shares of Common Stock underlying Warrants 5,258,333
Shares of Common Stock 92,994
Shares of Common Stock underlying Promissory Notes 6,975,000

The exercise prices for the Promissiry Notes and Warrants range between .40-.64. I don't remember seeing any restrictions on the warrants or notes.

Tom




To: Radim Parchansky who wrote (11360)3/12/1999 2:51:00 PM
From: rickd1  Read Replies (2) | Respond to of 15313
 
I'm curious how FNTN could buy back shares. They do not appear to have the resources from the SB-2.