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Biotech / Medical : SNRS- Sunrise Technologies
SNRS 0.00Dec 18 4:00 PM EST
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To: Larry Brubaker who wrote (3765)1/18/2000 1:39:00 AM
From: RickT  Read Replies (1) of 4140
 
What a deal...

(C) for the period prior to the 10th trading day in February 2000, the Conversion Price shall be $13.67.

If the prices rises above $13.67 before Feb 15th they can lock in a profit by converting and selling.
Maybe they converted everything at the high on Friday for a $2.33/share profit.

(B) for the period from the tenth (10th) trading day in February 2000 until the end of February 2000, the Conversion Price shall be 75% of the average of the ten (10) lowest Market Prices during February 2000 up until the applicable conversion date;

You could think optimistically that the glass is only half full and read this as, "no matter how high it goes, they can buy shares at a 25% discount of the lowest days of the month."

Or you could consider the glass half empty... they can short the crap out of it now and convert and cover at the end of February at a price virtually guaranteed to be lower than the price they sold short a single share.

If they wait until 2/1 to short, their 25% profit is guaranteed. ZERO risk - how do I get in on this kind of deal?

And with only a little risk, they can start shorting now (at a higher level than it will be by 2/1 when the hype has died down) and their selling will drive the price down... once the stops start getting taken out, who knows where the floor will be at the end of February.

I'll leave it as an excercise for the reader to see where the biggest profit potential is.

Unless it opens well above $13.67 on Tuesday, I know which plan of attack I'd be taking if I were in their shoes.

We've seen it before - we're going to see it again.
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