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Microcap & Penny Stocks : WaveRider WAVC NASDAQ ISP Wide Area Wireless Internet
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To: Ted M who wrote (1116)7/12/1999 10:13:00 PM
From: Larry Brubaker  Read Replies (1) of 1848
 
Ted, I spent about an hour and a half last night looking at the most recent S-3A for the December sale of the common stock (not the preferred shares or the convertible debentures). At second glance, I'm not sure this particular financing is as toxic as it appeared at first glance. Here is what I said on the Floorless Thread. I wouldn't take the post below as gospel because it really takes more than an hour or so to really become familiar with all of the details.

Message 10465554

I did not look at the S-3 for the other financing (I think they have both convertible preferred shares and convertible debentures, either of which could be toxic).

I don't plan on spending any more time looking at this stuff cause I'm not interested in WAVC as an investment. However, if I were long, I would spend as much time as it takes to understand the details of all of their financing. It will help you to understand the risks of your investment. Good Luck.
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