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Microcap & Penny Stocks : FutureLink Distribution Corp. (NASD-OTCBB: "FLNK") -- Ignore unavailable to you. Want to Upgrade?

To: Jim B who wrote (471)	5/5/1999 7:48:00 PM
From: daaan	Read Replies (1) \| Respond to of 841

Not trying to throw water on the parade, I bought FLNK when the CSCO news broke, but is important to keep the TK deal in the back of your mind. ---------------------------------------------------------- Effective April 26, 1999, FutureLink entered into an agreement with Thomson Kernaghan & Co. Limited ("TK") to alter the terms and amounts of outstanding securities held by TK on behalf of its clients. One of the key terms of this agreement is to fix the conversion price of the debentures at $0.20 per share rather than basing the conversion price on a floating discount to market formula. In addition, the issuance of new warrants and/or repricing of existing warrants to TK and its clients will result in them holding a total of 6,000,000 warrants exercisable at $0.25 per share. The Company will prepay a portion of these outstanding debentures on or before May 26, 1999 for cash of $1,881,600 together with common stock issued "at market" (based on a five day average of closing bid and ask prices) to cover accrued interest, leaving $2,500,000 principal amount of such convertible debentures outstanding with a fixed conversion price of $.20 per share. ________________________________________________________________ The management bought shares at .30 a share but they are locked up for a year. (Wouldn't you love to buy stock knowing you were going to make these announcements.) I don't know if the TK shares are locked up. If you don't know who Thompson Kernaghan is, you owe to your self to learn. If your just in it for the flip than it probably doesn't matter but it wouldn't hurt to know who your dealing with anyway. Best, daaan