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Biotech / Medical : Neotherapuetics possibly has a breakthrough drug - NEOT
NEOT 1.919+4.3%Jan 17 4:00 PM EST
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To: Marty who wrote (94)8/16/2000 4:13:00 PM
From: tuck  Read Replies (1) of 204
 
Hey, Marty,

You still out there?

Not to rehash our discussion about the converts, but to follow it up. It's been more than 90 days, and look where the price is.

Now let's look at the 8-K for those conversion terms:

10kwizard.com

The Debentures bear interest at the rate of 5% per annum, payable upon conversion or maturity, in cash or shares of common stock, and are convertible into common stock at the option of the holder at $20.25 per share for the first 90 days after the closing. Thereafter, they are convertible at the option of the holder at the lesser of $20.25 per share or 101% of the average of the ten lowest closing bid prices of the common stock during the thirty trading days preceding the conversion.

Emphasis is mine to highlight the conversion terms as updated since my first posts on the subject:

Message 13484292

There's a lot more and I suggest a thorough read of Item #5 in the 8-K.

Whether or not any manipulation is involved, I think the holders will try to reset the terms. When they do, get ready to back up the truck if you still believe. It could have quite a conversion rally, as the short (manipulation theory)/downside (for those who have other/no theory) is already started.

Anyhow, that's what I'm waiting for with NEOT.

Cheers, Tuck
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