Zitel-ZITL What's Happening Message Board

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Technology Stocks : Zitel-ZITL What's Happening

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To: Bill Wexler who wrote (7433)	5/29/1997 3:25:00 PM
From: CalculatedRisk	of 18263

The 8-K is available. Quick comments: 1) Institutional investors are in Caymans and Bermuda! 2) MatriDigm has NO revenue (what happened to Nevada?). 3) Conversion date is in August. So this is proper notification. 4) Looks like an illegal "no risk" deal. Converts below market price with variable conversion. If the price falls, the dilution will be significant. 5) Maximum convert price is $26, so this caps the upside to the stock, barring significant orders. 6) If liquidation, these holders get 50% of MatriDigm stake. More reading required. Great Posts, Bill

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