Roger's 1997 Short Picks Message Board

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Strategies & Market Trends : Roger's 1997 Short Picks

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To: Roger A. Babb who wrote (8430)	12/16/1997 5:50:00 AM
From: Rubber Man	of 9285

Hi! Don't usually post here, but got a pick I want an opinion for- VIFL. -6.8 M outstanding, 2.4 M float -Stock jumped on FDA approval of irradiation treatment of meat -going for niche market; i.e. planning to do second-tier irradiation as the major meat packers are probably planning their own facilitie -Was mentioned on Motley regarding the "dangers" of shorting- when it jumped to over 11 -Seven employees (from March 10-Q I think) -energetic and optimistic CEO -potential conversion of 3.3M debt to 0.80/share (don't recall what type of share, but it looks like commons from the 10KSB) -Jan 4 (98): 3.3 M debt becomes convertible into 4.2 M shares -March 31 (97): 6.7 M shares held by insiders. -Dec 15 (97): 6.8 M shares outstanding, 2.4 M float That majority of the float seemed be provided by MDS, which would mean they may decide to sell the 4.2 M shares after Jan 4 for a very nice profit. Even without dilution (4.2 M already included in 6.8) a sell signal from MDS could easily knock the price down a few points. To really speculate- MDS could short this and use the 0.80/share conversion to cover. Either way this stock may suffer within the month.

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