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Microcap & Penny Stocks : access power (accr) -- Ignore unavailable to you. Want to Upgrade?

To: okwute who wrote (352)	4/18/1999 8:31:00 PM
From: SouthFloridaGuy	Read Replies (1) \| Respond to of 803

Reservation is good, I can handle it!

To: okwute who wrote (352)	4/18/1999 9:06:00 PM
From: studious	Read Replies (2) \| Respond to of 803

Okwute- From where are you deriving the float of 6,000,000 Access Shares? Here is an excerpt from the 10K recently filed which quotes a float of 23,370,536. "State the aggregate market value of the voting stock held by non-affiliates computed by reference to the price at which the stock was sold, or the average bid and asked prices of such stock as of aspecified date within the past 60 days: As of April 5, 1999 there were 23,007,236 shares of Common Stock outstanding held by non-affiliates of the issuer, with an aggregate value of $5,176,628(based upon a value of $.225 per share, the average bid and asked price of the Common Stock on April 5, 1999) At April 5, 1999, there were issued and outstanding 27,370,536 shares of Common Stock." You must also consider their recent registration statement in which they registered 10,000,000 shares of which 7,000,000 was registered for Series A convertible preferred- a floorless convertible- in which the number of shares to be issued is based on a discount from the five day average closing bid price. See excerpts below: "PREFERRED STOCK The Company has designated one series of preferred stock consisting of 1,200 shares of Series A Convertible Preferred Stock(the "Preferred Stock"). Each share of Preferred Stock shall be convertible into a number of shares of Common Stock of the Company equal to the quotient obtained by dividing $1,000 by the lower of (i) Sixty-five (65%) ofthe average market price of the Common Stock for the five trading days<PAGE>immediately prior to the conversion date, subject to an additional 10% discount under certain circumstances, which are applicable to 1000 ofthe shares (e.g., a division by 55% of the average market price) or(ii) $3.00, increased proportionately for any reverse stock split and decreased proportionately for any forward stock split or stockdividend. The market price shall be the average of the closing bid prices of the Common Stock, as quoted on the Bulletin Board over the five trading days prior to the date of conversion." On Thursday and Friday I was hot for this stock. However, over the weekend, I did extensive due diligence and I am quite nervous. My past experience with floorless convertibles has been a nightmare. I hope I have not repeated my past mistakes. Studious