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Non-Tech : Cityscape Financial (CTYS)
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To: Zeev Hed who wrote (1326)10/23/1997 12:15:00 PM
From: Wayne Umfleet  Read Replies (1) of 2544
 
Thanks for your response, Zeev. I think the 34 million is more correct. There were 31.7 million outstanding at June 30 per their 10Q. I assumed that 2420 of the preferred shares were converted at an average price of $10/share, which gives you 2.4 million common shares, and then rounded to the nearest million to arrive at 34 million. I think you would get 10 million shares if you assumed both the April & September Preferred issues were all converted at around $10/share.

Rgds,
Wayne
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