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Microcap & Penny Stocks : ECOI On the Move -- Ignore unavailable to you. Want to Upgrade?

To: Gus the Dog who wrote (684)	4/26/1999 1:55:00 PM
From: ColleenB	Read Replies (1) \| Respond to of 692

I'll post the information from the link before it's lost... MGTK - Update As of 4/25/99 11:45pm Eastern Time Magnesium Technologies Inc. - (OTC:BB:MGTK) We have some preliminary information from Mr. Bailey regarding Magnesium Technologies Financials. Please note that these are estimates, we will release more accurate information as it becomes available. The total number of outstanding shares after the reverse split, merger, reversals... etc will be about 9 Million with a float of around 600 thousand shares. The float may go up a little as things are finalized but we would be surprised to see a float above 1 Million shares. The audit, when complete, will show a value of 4.5-5.1 Million dollars. Once the overseas assets are fully integrated and audited, this will likely rise to over 20 Million dollars. The overseas audit will likely be complete in less than 2 months. These figures show a book value of more than $2/share after integration of the overseas assets! Without information on future management (Mr. Bailey is only heading the reorganization) we cannot comment on future earnings or long-term price targets. Mr. Bailey expects to issue another Press Release this week with exact outstanding shares, more detailed financials and the like. Given the current information, we would not be surprised to see $5 in the next 2 months but please remember that there is still a great deal of uncertainty. Some of you have noted confusion over the reverse split and your broker's handling of your portfolio. Excluding any trades, for every 20 shares of ECOI, you should have 1 share of MGTK. Many brokers take several days to properly update their systems so you may have to call to place a trade but most will still charge the 'internet commission' since their system is at fault. Many of our subscribers have expressed interest in speaking with Mr. Bailey so we have approached him about the possibility of an 'online chat.' Mr. Bailey seemed agreeable and said he would look into the possibility and let us know in a couple of days. We hope to be able to bring our subscribers this opportunity to speak with Mr. Bailey regarding the future of Magnesium Technologies late this week. -The Staff of PennyStocks4u.com