Pump's daily trading recs, emphasis on short selling Message Board

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Strategies & Market Trends : Pump's daily trading recs, emphasis on short selling

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To: Michail Shadkin who wrote (546)	5/14/2001 9:09:36 PM
From: Nazbuster	of 6873

The $20.00 guarantee per share of preferred ($2.00 per existing share of RRRR) is as good as the liquidation pool's ability to pay it if an when it ever came to that. At present MTNT valuation ($1.42) and the 6.5 share conversion, the present value of each RRRR share (not counting the $20.00 guarantee) is $1.42 x 6.5 / 10 = $0.923. This is somewhat underwhelming. Only the prospects of MTNT trading to $3.125 and staying there for 10 days can push RRRR up. Let's hope XMSR runs to $60.00. Edit: Looks like shareholders get screwed: The existing RRRR preferred is retired via compensation of several million shares of XMSR stock. RRRR shareholders (common) get none of this value.

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