Parlux (PARL) Fragrances Message Board

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Non-Tech : Parlux (PARL) Fragrances

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To: M Goodson who wrote (152)	12/4/1996 2:09:00 PM
From: peter lo	of 527

Hi Mr Goodson, Do you have idea why it need to take such a $1 million charge for debenture note conversion? This is very unnormal for only $5 million debenture conversion. It should not take more than 6% charge of total captial transacted; i.e; $300,000. Do you have any idea why the conversion rate is so low about $1 for 1 PARL share? The company has about 13 million shares before conversion and has about 18 million shares after conversion. The debenture note was about $5 million on total. What kind of term is this? It give the debenture holder such good deal! I feel the debenture holder have some kind of relation with core management team members. Otherwise the company will not do so. It diluted current share holder 40% value. Peter

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