Zitel-ZITL What's Happening Message Board

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Technology Stocks : Zitel-ZITL What's Happening

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To: taxikid who wrote (7460)	5/29/1997 8:30:00 PM
From: CalculatedRisk	of 18263

TaxiKid, you are over complicating the scam. The Cayman investors already sold enough shares short to hand over $25 million to Zitel. They are out nothing and have made no profit (they owe about 1 million shares). On August 20, say the price is $5, they convert 20% of the debentures or 1 million shares and cover their shorts. Without a short rally! Now they convert and sell as needed. The more they sell, the lower the price, the more they make on the next batch. A brilliant scam!

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