TSI TelSys Corporation - Satellite communications Message Board

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Technology Stocks : TSI TelSys Corporation - Satellite communications

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To: RAYS who wrote (217)	1/26/2000 3:19:00 PM
From: Ron Struthers	Read Replies (1) of 241

Hello Rays, the $5 really does not mean anything to the price of the stock, a number of shares and price had to be set to add up to $5.3 million. Think of it as a loan where the principal only has to be paid when the borrower wants (TSI). The loan carries and int rate of 8% and could be as high as 12%. A loan structured this way is considered equity so it is not a debt/liability on the balance sheet, hence the greatly improved balance sheet for TSI. The preferred holders will stand ahead of the common shareholders in line if the company went bankrupt, this is their extra security as preferred stock holder. Have not heard anything on time frame for Nasdaq listing It still seems a pretty cheap buy to me, there is under 10 million shares out and I think the float is pretty tight, around 2-3 million Ron

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