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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Dante Sinferno who wrote (27829)	4/7/1999 11:56:00 PM
From: steviee	Respond to of 122087

<efax> interesting post,in this market?

To: Dante Sinferno who wrote (27829)	4/8/1999 12:51:00 AM
From: Dale Baker	Respond to of 122087

This is the dilution coming for ICCAC - well over the current float. With no income from operations, the investors have to get their money somewhere. I am betting it will be from retail longs. Ten million bucks at $14 apiece right now is 700K shares. I will bet they will cash out for much less. This new $$$ may be enough to keep them listed for a while. But the dilution is inevitable. Plus no news about their product for weeks now. --------------------------------------- As of January 31, 1999, the Company had received and accepted subscription for the purchase of $2,595,000 of Bridge Units from individual accredited investors. The Company currently estimates that cash on hand together with cash generated from operations will be sufficient to satisfy the Company's cash requirements only until April 30, 1999. The Company commenced a Private Placement offering up to 7,405 shares of the Series A Convertible Redeemable Preferred Stock ("Series A Preferred Stock") immediately following the closing of the Bridge Financing at a price per share of $1,000. In addition, the Company has offered the Bridge Note holders the opportunity to exchange their Bridge Notes into shares of the Series A Preferred Stock. All of the holders of the Bridge Notes have agreed to exchange the Bridge Notes into shares of the Series A Preferred Stock subject to shareholders approval of the potential issuance of more than 19.9% of the outstanding voting securities of the Company as required by the rules of the Nasdaq Stock Market and continued listing on the Nasdaq SmallCap Market. As a result an additional 2,595 shares of Series A Preferred Stock will be issued, and the total of the Series A Preferred Stock will be up to 10,000.