Replies to post #8835 on $tacks Upon $tacks Of Moolah (STAX)

[EdF]

SO WHAT? They paid a 25k fine. Go find some news with some real teeth in it! LOL, damn near every penny stock is being or has been sued at some point. Sheeezzzz

[bbgold]

Not Your problem then NOC!
Here is something interesting from the SB-2 dated 10/04/2002.
Looks as though the lower priced debenture is done and now they are working on the next?

We have issued to several security holders debentures, notes, warrants and shares of preferred stock that are convertible or exercisable at prices that are equal to the lesser of a fixed price and a variable price that is based upon a discount on the market price of our common stock. As of September 23, 2002, we had a total of 24,450,065 shares of common stock outstanding, the closing sale price of a share of our common stock on the OTC Bulletin Board(R) was $0.016, and the debentures, notes, warrants and shares of preferred stock with variable conversion or exercise prices were convertible or exercisable into approximately 688,000,000 shares of common stock. The number of shares that those debentures, notes and warrants ultimately may be converted into or exercised for could prove to be greater than this estimate if the market price of our common stock declines. You could, therefore, experience substantial dilution and a decline in the value of your investment as a result of the conversion of the debentures and exercise of the warrants.

The applicable conversion price of our debentures issued to certain of our security holders is variable and does not have a lower-limit, therefore the dilutive effect to our existing security holders is theoretically limitless. Conversely, because the variable conversion price of these debentures has an upper limit, an increase in the trading price of a share of our common stock will result in a limited benefit to existing security holders with respect to the conversion of these debentures. The following table sets forth the approximate number of shares issuable upon conversion of the principal portion of the debentures issued to certain security holders and outstanding as of September 23, 2002, based upon the indicated hypothetical trading prices:
Number of Percentage of
Hypothetical Conversion Shares Company's
Trading Price Price (1) Issuable (2) Common Stock (3)
------------- ---------- ------------ ----------------

$0.015 $.0075 485,685,000 95.2%

$0.01125 $.005625 647,580,000 96.4%

$0.0075 $.00375 971,370,000 97.5%

$0.00375 $.001875 1,942,735,000 98.8%

[Capt_Nemo]

Hey wite, is this you on RB???WiLDRIDE17