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Microcap & Penny Stocks : Fonar - Where is it going?
FONR 14.77-0.3%9:30 AM EST
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To: BlueCheap who wrote (17783)1/15/2002 4:38:34 PM
From: Zeev Hed  Read Replies (1) of 19354
 
Malcolm, Read the following carefully:" At the times when the market price for our common stock is less than
$2.047 per share, however, the holders will not be likely to convert and we would be left with the alternative of paying the debentures in cash or in shares of common stock valued, for the purpose of payment, at a discount from the then current market value for the common stock. This discounted value would be the lesser of (1) 90% of the average of the four lowest closing bid prices during the preceding calendar month or (2) the average of the four lowest closing bid prices during the preceding calendar month less $0.125..

Now, that is a pure floorless convertible. If you do not know what it means, look up the following post I wrote 3.5 years ago:

Message 5368910

Zeev
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