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Non-Tech : Cityscape Financial (CTYS)

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To: sowen who wrote (1163)	10/21/1997 11:01:00 AM
From: Rational	Read Replies (1) of 2544

There are two possibilities: A. Something very seriously wrong with the management and CTYS. B. The management is extremely smart!! They have been beaten badly by the Wall Street. So, this time, two of the directors of the company collude with the CEO to sell 500,000 shares (Tuesday last week) to induce a sell-off. Then CTYS files S3 to register for shares to give to convertible preferred stockholders. All these are intended to drive down the price to a small number say $1. Then, CTYS management decides to buy at that low price most of the shares (140% including shorts). They then make the announcement of good news. The share price rises to $20. The convertibles cannot convert till Dec 12. Shorts get squuzed. The price rises further, etc. and the management benefits tremendously. If the management has good news, they can easily play this game. THIS APPEARS FICTIONAL TO ME at this stage. But, the game players can do anything, IMHO. Sankar

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