TSIG...is a floorless...watch out..
To: Zeev Hed (596 )
From: Bald Eagle Friday, Jul 9 1999 5:17PM ET
Reply # of 605
So, you think TSIG will fall back again next week?
BTW, I'm really not interested in putting my money there again, but I find the story fascinating. Personally, I can't understand why anyone still believes anything that TSIG management says about projected revenue and earnings. They've been wrong so many times. I can't remember how many "great deals" they have announced that never produced any decent revenue. The best case is that they are very bad managers, at least as far as the average investors' interests are concerned.
Subject: Floorless Preferred Stock/Debenture
To: Bald Eagle
From: Zeev Hed
Jul 9 1999 5:28PM EST
Reply #605 of 605
Bald, as I said before, they will need few of these trips to $.06 $.07 to get their short position laid out, today, I would surprised if they managed to get more than 3 MM shares off on the short side. I expect the stock to drop back, but in slow motion, with interruption every time they put out another news release. Notice that now there is no more Signature deal, the LL does not start kicking in until January, so what is going to give them positive cash flow? The two new deals just announced both talked about "customized" cards, one for a target population of 100,000 or so (of which one would be lucky to get 10%, and thus the profits will be eaten up by the need to customize). However, Suzanne believes that customization is not an issue.
Zeev
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