To all: Acording to the 8K the Preferred's are convertible into ISGI
common shares. No where is it mentioned that they are convertible
into TWTI shares. The relevant passages are cut and pasted below
for your reference:
(I) There shall be issued to Harrott, Kirkland, Wiggins, the
Harrott Trust, the Kirkland Trust and Lewis in exchange
for their capital stock of Total an aggregate of 231,000 shares
of ISG's Series M Cumulative Convertible Voting Preferred
Stock ($100 stated value) convertible into 23,100,000 shares
of Common Stock of ISG (the "Series M Preferred Stock").
(ii)There shall be issued to Booth, the Parents' Trusts, the
Siblings' Trusts, the Nephews' & Nieces' Trusts, the
Descendants' Trusts, in exchange for their capital stock of
Total 66,500 shares of ISG's Series N Cumulative Convertible
Voting Preferred Stock ($100 stated value) convertible into
6,650,000 shares of Common Stock of ISG (the "Series N
Preferred Stock").
Ben |
