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Technology Stocks : Source Media SRCM
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To: Harpo who wrote (2933)1/19/2000 10:46:00 PM
From: MW  Read Replies (1) of 3015
 
harpo;

go figure, I have a different take on the transaction. Go with whichever you wish but keep in mind that the same person[people] who are telling you srcm is worthless are the same people who have been telling you that they had no compelling technology or patent position yet they just somehow managed to sell just a piece of this nothing for close to 200 million of liberate stock.

Actually Kevin is correct for a change although we disagree over the value of srcm's content and program guide. Time will tell.

The conversion of the bonds is a great move by the co. For every 1000$ of bonds you can convert to 50 shares of common with a maximum price on the stock of 20$. At most, the co will only pay par in stock to buy the bonds but most likely it will be less. Before you ask why would bondholders accept less than par in stock to convert, you must understand that alot of current bondholders own their bonds at 50 cents and under. Many original owners have sold long ago and taken their losses. If you own the bonds at 40 cents and could convert to 75 cents of stock{ 50 shares x 15 stock price/ 1000 dollars] why wouldn't you convert?

Now the co will significantly reduce their debt and concentrate their efforts on marketing their content and epg through their liberate special content relationship.

And Kev;

What is the difference between srcm's program guide and its competitors, and why doesn't it compare as you state?
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