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Technology Stocks : EGLO Executive Telecard
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To: Howard C. who wrote (137)1/10/2000 12:26:00 PM
From: Dako  Read Replies (1) of 300
 
Of course I'm short this stock.

Now just to help out those who prefer to invest based on press releases rather than financial statements, let me provide the following from recent filings by EGLO. Just focusing on three of the preferreds, as of Dec. 12, 1999:

Srs. E Preferred: Conversion into 2,353,941 common shares is forced if stock closes at 5 or more for 20 consecutive days

Srs. M Preferred: Conversion into 3,773,585 common shares is forced if stock closes at 5 or more for 10 consecutive days

Srs. O Preferred: Conversion into 3,220,000 common shares is forced if stock closes at 6 or more for 15 consecutive days

From just those three issues alone, that's 9.35 million shares that will come into the float if the stock hangs in here for a bit longer. Of course, most of those shares won't wait for the forced conversion. They're converting it themselves and are selling and will continue to sell to boobs who don't have a clue of what they're buying at these ridiculous prices.
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