JDN, I just read GUMM's new release and found it quite interesting, particularly this passage : "and is the only stainless steel gum manufacturing facility" (VBG), I presume next we will have gum made out of titanium (VBG). It just show how language, particularly English can be quite misleading...
As for your question on another thread, yes I looked and GUMM finances and could not find a floorlees. They have $2 MM of preferred convertible, but the conversion is not variable in time. The way I read it, the conversion rate is determined by the average price 20 days prior to a fixed conversion date (June 2, 2001, if memory serves). Around that date, you may find some "playing with the stock", but whether these games occur at $2/share or at $100/share, I have no way to determine.
By the way, this preferred and another $4 MM in additional borrowing is not enough money, IMHO, to get this show on the road in a real big way. These funds should barely suffice for the clinical studies to be undertaken between here and October. If sales let say get to $100 MM, they'll need a good $30 MM in additional funding to support working capital, IMHO.
I hope that helps.
Zeev |
