TEKMODO INDUSTRIES INC RTS V.TEK.RT

Hmm...

[Point005]

So if I don't add more investment $ by exercising the rights - I lose 70% of my investment in this wonderful company. Great!

[quicksilver545]

Not sure why im bother to respond cause you're probably a basher, but let me educate you a bit.. Rights offerings are a great way for the company to raise capital while giving existing investors the opportunity to avoid being diluted. This is a particularly attractive offering because there is an attached warrant at a very low exercise, and one got a right for every share held. So if you held

[Point005]

Thanks quickslv, I appreciate your response... I had a problem understanding how they worked - I have yet to go through this process.

[jevs]

Yes Quicksilver, thanks from me as well!  I had a question or two going forward from here.  Can a person buy the righs they are entitled to for 1.5 cents and then at some later date within the next 5 years excersize their warrants and pay the additional 2.5 cents at that time, or do you have to pay for the rights and warrants up front for 4 cents?  I've read the release a few

[quicksilver545]

Think of rights like a contract that one can opt into, with a 30 day expiry, and these contracts are given out as a dividend. Rights were given to shareholders of record on May 25, and the stock went ex-rights (meaning, no attached "dividend" if you buy on or after this date) on May 22. These Rights will appear as separate securities in your account, under ticker TEK.RT, hopefully

[Point005]

Just spoke with TD and they say this whole rev split is cancelled. I still see the rights listed on the txv so have no idea what's going on??

[Point005]

No response from Tekmoto as to what's up... Guess the announcement was just a ruse to drive the price down. Scammed again- $@&$##.

[jevs]

I'm also with TD.  I called them a couple of days ago and was told the same thing.  I had to point out to them that wasn't the most up to date info and the last communication from the company was stating everything was still going ahead but they had to do the rights offering first.  TD checked and said I was right.  I asked when to expect the rights in my account and

[Point005]

Good job Jevs!!

[KingBill]

My broker said thr rights should be in my account before 31st...

[quicksilver545]

I understand people are panicking and inpatient. However, i have been involved in a few rights issues, and sometimes the rights take a few days to appear in accounts. So just be patient for a few more days, and we should see those rights soon enough!

[BigMoneySniper]

I also trade with TD and when I called they only had news of the cancellation. I made them aware there was a new press release and then they found it. Said I should have the rights in my account around June 3rd.  Can't wait for this to get going!