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Non-Tech : Just For Feet (FEET)
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To: Walter High who wrote (386)9/30/1997 8:08:00 PM
From: lanac   of 750
 
Hi walter

as you know FEET has asked for a 300million in special bonds and got approval of that, but I know that after the stock plunged management delayed it and are waiting for the stock to go up and then issue the notes, but the notes will be exchanged to stocks anyway so on one hand there will be no interest but the convertible bonds will diminish EPS when they are converted to stocks, so there is no surprise to me that FEET will have to take on some kind of debt to finance new store openings and that inside growth cant support that all,
as we saw this q one cent went of the bottom line cause there was reduced or no income from interest that was the on the income statement in last fiscal year, so iam very surprised to hear that FEET can finance its new 25 super stores without any debt that's a total surprise to me and I still have big doubts if he was telling the truth
any comments??
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