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Non-Tech : Any news about this stock? WTHL
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To: mrvn t. martian who wrote (53)10/12/1999 11:29:00 PM
From: Mike Sawyer  Read Replies (1) of 141
 
In a normal situation the convertible preferred stock would be sufficient to cover it. But Alvarez and Bowen took care of that by setting the conversion price on ALL convertible preferred stock to $3. They did this legally and there is nothing the preferred holders can do...the bankruptcy court has approved this. So now, if the preferred holders want to convert they must do it at $3 per share.

Discuss that with Tom Biggs when you chat with him.

My thought is that it would be cheaper to cover the RegS short on the open market. And that is why I am looking for signs of accumulation.

Cheers!
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