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Gold/Mining/Energy : Colossal Resources - CLPZF - Colbalt in Zambia
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To: Tom McIlwain who wrote (196)4/22/1997 1:27:00 PM
From: Paul Francis O'Hearn   of 501
 
Tom , you are right. With conversion of the debentures Select gets an automatic 25% profit and moreover they attain a stronger leverage position as they continue to convert at lower prices.

There is an excellent general description of the way "Regulation S" financing works at Global Money Consulting's web site:

global-money.com

If you look at the Nasdaq chart for Colossal you can clearly see that the the typical price/volume profile they describe emerges.

The first half of the conversion process was allowed to begin 45 days after the closing date of the debenture financing.When was the closing date of those Debentures? From the chart it looks like the conversion started around the end of February; that is when the heavy volume started to kick in. Was that about 45 days after the
closing date?
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