Exten Industries (fka BB: EXTI)

[Patricia_1]

Email from Szabo re Authorized Shares 12/03/03

By: ccc343
03 Dec 2003, 04:30 PM EST
Msg. 18195 of 18197
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e-mail response from Greg Szabo.......

-----Original Message-----
From: ccc343@[mailto:ccc343@e...]
Sent: Tuesday, November 25, 2003 11:31 AM
To: info@e...
Subject: Authorized shares

Dear Sir or Madame,

At the close of the last shareholders meeting, the company released
a
PR stating that an additional 100,000,000 shares were authorized by
the
shareholders. I know this generated some dilution concerns, but once
clarification was made as to what the shares were to be used
for(mergers,acquisitions), this concern diminished. The guarantee from
the company not to release these shares into the float has been
honored.


My question is, out of the additional shares authorized, how many
remain available for mergers or acquisitions?
I am not sure if you can legally disclose this information and I
understand completely if you cannot. Thank you in advance for your
response.

Sincerely,


From: Greg Szabo [Add to Address Book]
To: ccc343@
Subject: RE: Authorized shares
Date: Dec 3, 2003 12:22 PM
Mr., the additional shares were needed for mergers, acquisitions
and fundraising. When a public company needs cash, stock is sometimes
the only way to raise money. You may have noticed a recent press
release
talking about debt being converted to equity. These convertible notes
exchange the debt for stock. You do get some dilution but you
dramatically improve the overall position of the company. To answer
your
question, we set aside shares that might be converted for these loans.
Even if all the loans are converted, the majority of the shares are
still available for use.

http://ragingbull.lycos.com/mboard/boards.cgi?board=EXTI&read=18195