Replies to post #13067 on 141 Capital Inc (fka ONCP)

[MuchCompensation]

If one enters into a conversion process with specific restrictive provisions, like no conversion for three months for example, why then is a R/S with an "exhibit A" not disclosed via Mail or other such conveyance? I would certainly not expect a PR with such information.

I don't see any mention of such provisions in the initial offering.

141 Capital, Inc.'s Board of Directors Approves Preferred Stock Exchange for Shareholders

Thursday, 09 October 2008 08:31
CHICAGO, Oct. 9 /PRNewswire-FirstCall/ -- 141 Capital, Inc., (Pink Sheets) is pleased to announce that the Company's Board of Directors has approved a preferred stock exchange for its shareholders to convert common stock in the Company for shares of preferred stock. For every 1,000 shares of the Company's common stock turned into the Company's transfer agent during the term of the exchange offer, shareholders will receive one share of preferred stock valued at $1.00 per share.

Shareholders must turn in a minimum of one million shares of the Company's common stock to qualify and take part in the exchange offer. The deadline for accepting the exchange offer and delivery of physical certificates to the Company's transfer agent Manhattan Stock Transfer, is the close of business on November 7, 2008. No conversion of the Preferred Stock to Common Stock can occur until after a holding period of three months from the date of the new certificate. Thereafter, shareholders may convert their Preferred Stock into Common Stock.

"The restructuring of the Company's shares will enable us to better fulfill our overall business plan and bring true value to our shareholders," stated Errol Stone, CEO of 141 Capital, Inc. To get more information on the preferred stock exchange, please visit the Company's Web site: http://www.141capital.com

http://www.141capital.com/index.php/press

Furthermore, I don't see any reference to the conversion calculation in the request form besides the "10%" Clause.

http://www.141capital.com/pdfs/Series%20C%20Preferred%20Stock%20Conversion%20Request.pdf

My shares were converted electronically with TDA. I never saw a certificate, much less an "exhibit A"

That is not the way to conduct business.

One more thing that annoys me, many people paid for the "pleasure" of converting. That amount mitigates the protection of the R/S of common shares.

I think an explanation of the conversion calculations are in order.

MC

CC: 141 Capital
CC: Big Apple