Furthermore...
Sorry folks, the actual amount to be converted is less than the originally stated (I guess rounded off) $1,500,000. It is $1,213,889.
That makes the previous calculations read:
With the closing price average for June at 6/19/99 of 3.79464
$1,213,889 converts to 312901 shares (Equal to 0.60 average-share days to sell.)
One sixteenth less converts to 318025 shares, 5124 additional shares
At the high close for the year of 6.125, the value of the conversion today would be: $1,916,520 (that's 157.88% over the face value).
The value of an additional 5124 shares would be: $318025 (an additional 2.59%)
Once more, apologies for the mass of posts: this was either going to have been a very good reason to cut bait or a very nice opportunity to make some bucks trading, and consequently a few of us thought it important. |
