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Strategies & Market Trends : Roger's 1998 Short Picks

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To: vegetarian who wrote (943)1/18/1998 6:40:00 PM
From: Roger A. Babb   of 18691
 
M. Carter, ESMC registered 430,000 shares to cover the convertible offering so they must be estimating a price of $3 at the time of conversion. These deals usually have a date range for conversion, at the holders option during the range and then remainder converted automatically on last day.

There is little likelyhood that a company issuing floorless convertibles will have good news very soon, else such a bad deal would not have been necessary. (Only cancer patients volunteer for chemotherapy)

Roger
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