Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: david james who wrote (18279)	2/4/2000 11:52:00 PM
From: BDR	Read Replies (1) of 18691

BDE redux << The $6 mill was a potential credit line if they needed it... However, that is a moot point since the company raised enough capital through the group of 7 investors to make the debentures unnecessary. Those investors include the Saudi Royal family>> freeedgar.com "On January 31, 2000, we issued our first put notice to St. Annes Investments, Ltd., under the securities purchase agreement dated March 29, 1999, between Brilliant and St. Annes. By delivering this notice to St. Annes, we elected to sell $1,000,000 in aggregate traded value of Brilliant common stock to St. Annes under the pricing formula set forth in the securities purchase agreement." I guess it isn't moot anymore. Burned through all that capital and it is time to call on St. Annes. The Saudis filed to sell their interest a long time ago. I wonder if they are still around.

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