DAVID SIRK's VALUE MOMENTUM PLAYS Message Board

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Microcap & Penny Stocks : DAVID SIRK's VALUE MOMENTUM PLAYS

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To: makin_dough99 who wrote (3970)	7/8/1999 6:38:00 AM
From: ISOMAN	Read Replies (1) of 4828

The press release sure is vague. 5 years to convert. No mention of how much money is being raised (alludes to 4 million, but does not actually come out and say it) If, in fact, they are to get X number of preferred shares convertable at 65% of the 5 day average trading price, then this is a floorless deal. It will be very easy for GEM to short shares equal to the number of shares of preferred they have. As the price drops, they will be able to short more and more. Then, finally , when the 5 day average is low, low low, they can convert. It is known as the DEATH SPIRAL. I am sure SIRK will attempt to spin this. IT is important that people be made aware of the ramifications of TOXIC debentures like this. Message 6802240

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