Floorless Preferred Stock/Debenture Message Board

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Strategies & Market Trends : Floorless Preferred Stock/Debenture

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To: Ditchdigger who wrote (938)	9/3/1999 8:21:00 PM
From: Zeev Hed	Read Replies (2) of 1438

DD, I did not read the whole document, only the "eye glazing part you mentioned. The "initially" also got me to think that later there might be other conversion rates, but in what you showed, I could not find the floorless, at least not before the "glazing" effect. Maybe I should reread the eye glazing text again with some anti glazing medicine (g). I think that this weekends, however, I'll have to reread VLNC's 8-k and get to understand what is going on there. The bulls are no help in straightening out the text, so, I'll have to do it myself. Right now, it seems that the Wunderkids WS financial engineers have found a back door to get the ceiling in a floorless to be floorless itself with the help of an ally buying chunk at $3 MM worth of stock at a small discount (8%) to market every month. This is similar to the leaky floorless that killed RNTK (and of course in a much grander way TTRIF and TSIG). If I finish that, I'll try some anti glazing stuff and look at what SKI is about. Zeev

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