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Strategies & Market Trends : Roger's 1998 Short Picks
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To: david james who wrote (18277)7/9/1999 10:05:00 PM
From: BDR  Read Replies (1) of 18691
 
<< If you had read the S-3 closely...>>

Thanks for the heads up but I did read:

"On May 13, 1999, Roseworth converted $250,000 of the principal amount of the debenture into 76,489 shares of our common stock, and on May 24, 1999 Roseworth converted an additional $500,000 of the principal amount of the debenture into 129,033 shares of our common stock."

With the stock well over six bucks I imagine they would convert. Did your source at the company say if Roseworth is still holding those positions? And you are saying the $6 million convertible is just hanging out there for no particular reason? I am glad for them that they raised $4.5 million by selling stock to keep the operation going since their primary business continues to lose money. When does the company project a profitable quarter?
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