Weird, it is a blessing...excersicing the right to be shafted is how I see you looking at the RIGHT. You better go here and read some BULL:
ragingbull.com
50 posts front and rear:
ragingbull.com
ragingbull.com
LIKE THIS- it IS true...so are you...obvilious? RE:
<<..."think of the additional investment as roulette; your chances are about the same as playing it all on red number 6 or spending $210 on the state lottery."
I disagree. The lottery is not run by self-dealing, corrupt, lying, deceptive management. At least the schools get something out of the lotto proceeds and there is SOME chance of coming out ahead.
$210 into SHMNO (Series R) is just $210 into Lisa's and Kirk's pockets. That's all it is.
Personally, given the choice you offered, I'd put the $210 on 6 red for one spin of the wheel. Second choice would be the lotto tickets. Third choice would be giving the $210 away to somebody on the street. I'd even rather just burn the money before giving it to Lisa and Kirk.
Unjust enrighment.
..>>
ragingbull.com
at S.I. it was replied to you in July that 18 AUG 99 is the date:
see bottom:
<<..Subject: New Shaman (SHMND) Discussion Group
To: Daniel Shaffer
From: JMarcus
Jul 2 1999 10:05PM EST
Reply #4 of 19
The only reason to own the common stock today is to be eligible to purchase the Preferred R shares. Lisa Conte has told me as much, point blank. Earlier this week she said that the record date for the Preferred R shares would be July 2 or early the next week.
I feel much more optimistic about the value of the Preferred R shares after receiving a voice mail message from Lisa today, which I've transcribed for you as follows (the first sentence is in reference to my voicemail query about getting the Preferred Cs to waive their right to redeem, for cash, upon a "change in control"; the rest of her message responds to my expressed concern that the Preferred Cs might come in behind the Preferred Rs after 2/1/2000 and start diluting their value post-conversion):
"The Cs and Ds have all signed waivers that achieve the same thing as the vote would have achieved. The vote was strongly in favor. It was over 95% in favor. We just simply decided that it took so long to get over 50% of the votes in that we decided to do it by waiver instead. As far as assurances that the Cs won't wait to convert until after February 1st: of course I can guarantee nothing there. However, these are the reasons why I think that's the least of our . . ., that it's a risk worth taking with this whole structure. Keep in mind that the Preferred R still is converting at a 90% discount to market. Even if you assume the stock price drops after February 1st, after that conversion, it probably will not drop 90%, which means the Preferred C is not converting anywhere near the ownership position that the Preferred R is. Also, if the Series C just wants to own a big chunk of the company, they were offered the opportunity to take their holdings, dollar for dollar, and exchange them for a discounted position in the Preferred R. Discounted not as much as the Preferred R, but there was a discount. They elected against that. Their interest is in trading, not holding that stock, trading their stock as quickly as possible and getting their guaranteed fifteen percent, fifteen percent, which is the discount they can convert into. The faster they do that the better their return is. Our volume is such that they should be able all to get out before the end of the year. There may be some Series C holders who hang on for the original for the original intention of the security, which is to collect the royalty over the next five years and convert at some point way in the future, after they have collected their royalty and their interest every single year, as an income generating security. An that's fabulous. That was the original intention of the security. So the only motivation, based on who the holders are now, to wait until February 1st and take over the stock would have to be totally nefarious, just to hurt the company. And again, speaking through (inaudible) different participants in the Series C. Of course I can guarantee nothing, but there's a very small number of these shareholders. I know where they are all coming from and I know what they are interested in doing. And they want to convert out of this as quickly as possible, starting on August 18th, with the exception of a small amount that may actually hang in there for the royalty collection over the next five years. Hopefully this answers all your questions."
Marc
..>>
I vote no:
me( Chucka NO Convert)
<<..And they want to convert out of this as quickly as possible, starting on August 18th, with the exception of a small amount that may actually hang in there for the royalty collection over the next five years. ..>> |
