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To: ztect who wrote (35632)6/17/2000 10:35:00 AM
From: ztect  Read Replies (1) of 40688
 
Sounds like PNL is selling preferred shares...
if the prices I saw posted about the PP were right.

Thus I'd be a little more leery about dilution, if I were
you, because such shares usually can be converted into
multiples of common shares.

Moreover, I'd be concerned because resorting to
carry-me-over-until-to type of PP's at this stage
of the game, may indicate that attempts to obtain
IB or VC financial capital aren't going so good.

Anyway, was an 8-K filed explaining the offering?

z
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