International Precious Metals (IPMCF) Message Board

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Gold/Mining/Energy : International Precious Metals (IPMCF)

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To: Lew Green who wrote (26352)	11/15/1997 12:15:00 AM
From: Eric Tai	Read Replies (1) of 35569

Lew, Brad, Kim, I tend to agree with Lew that the news release talked about a different kind of financing which is not the Reg S type. The typical Reg S financing is to allow the convertible debenture holders to convert at a DISCOUNT (say 15%) to the market value. Then the convertible bond holders can keep converting and selling his stocks at market to lock in the discount and cause the stock to crash. But in this case, the news release is talking about a 125% of market value. Though I don't know about the details or strings attached to such kind of deals now, it is not Reg S.

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