Equitex May Sell Stake in San Juan Fiberglass Pools

Equitex Inc. may sell up to 8.1 million common shares, or 4.3%, of San Juan Fiberglass Pools for as much as $850,500, according to a filing with the Securities and Exchange Commission.

Equitex acquired the shares in return for cash and consulting services. Beginning in June, 1987, San Juan Pools agreed to a two-year contract with Equitex and paid the entire $48,000 fee up front, according to the filing.

Equitex also owns $75,000 worth of debentures in San Juan Pools, a manufacturer and installer of fiberglass pools based in Hemet, Calif., according to the filing.