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Microcap & Penny Stocks : MDU Communications Inc. - MDTV -- Ignore unavailable to you. Want to Upgrade?

To: jeff c. who wrote (307)	6/2/1999 10:29:00 AM
From: Glenn Petersen	Respond to of 994

I don't think that we are going to get any significant move up until there is some news on the financing. Given the company's story, I am not too concerned about their ability to close on some money. From the Form 10SB12G: sec.gov "The Company is seeking US$4,000,000 in equity financing through private placements in order to execute its business plan through the twelve-month period ending April 30, 2000. Approximately one-half of that amount will be used to defray subscriber acquisition costs which are primarily the purchase of television set-top boxes, MDU rooftop equipment and wiring costs. Approximately CDN$500,000 will be used to grow through the acquisition of small satellite master antenna television (SMATV) systems whose subscribers represent potential additions to the Company's Star Choice subscriber base. The balance of the financing proceeds will be used to finance operating costs and working capital needs. The success of the Company is dependent upon its success in obtaining this financing."