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Strategies & Market Trends : Floorless Preferred Stock/Debenture
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To: John Liu who wrote (54)8/17/1998 2:19:00 PM
From: Ditchdigger   of 1438
 
John,you can look at the EXSO press releases,they refused to convert,but acknowledged the fact that they would have to ask shareholders to increase the number of authorized shares to accommodate conversion. They were able to refuse because there weren't enough shares available to convert. But in the longrun,IMO they are contractually bound to convert,regardless of the damage to shareholders.. A deal is a deal..DD
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