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Technology Stocks : Zitel-ZITL What's Happening
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To: ItsAllCyclical who wrote (7951)6/6/1997 9:17:00 AM
From: Roger A. Babb   of 18263
 
Jim, the "lessor of" deals like the Cayman financing are usually deals of last resort by companies with no other alternative. Actually these type deals are not bad for the company but are very bad for the shareholders. The deal is roughly equivalent to selling shares at $26 paying a 5% dividend and guarenteeing that they can't lose money by adding more shares such that the value of the holdings is not less than the $25 million plus about 10% no matter if the stock price goes down.
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