MCAR Message Board - Msg: 9033566

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Biotech / Medical : MCAR

MCAR 0.0650

-36.3%

Jan 31 4:00 PM EST

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To: Ditchdigger who wrote (411)	4/20/1999 2:41:00 PM
From: richroni	Read Replies (1) of 467

I have the misfortune of owning a stock (ANCR) that did some financing using a Reg D placement. It was also a "floorless convertible" The stock was driven down from about $7 to $1 and the number of shares increased from 12 to 24 million during the conversion. It was really scary watching the stock get beaten back on every attempt by the stock to gain. Luckily the stock eventually rebounded to a high of $9 (currently $5)based mostly on the company's potential in an up and coming technology. If I was a current shareholder in MCAR I would sell and wait to see how the company survives the "death spiral" conversion. I do not know if MCAR has any protection against this type of activity or if, in fact, their Reg D financing is "floorless" But, I would be greatly concerned.

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