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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Roger A. Babb who wrote (932)1/18/1998 3:43:00 PM
From: DLS  Read Replies (2) of 18691
 
You mean like in the case of HCOM?

The stock recently tanked bad. It has been the subject of the 100% gain in 72 hour thread as well as a new HCOM thread. Here is an excerpt from a release from the end of December:

HomeCom Communications, Inc. (NASDAQ SmallCap: HCOM), an Internet applications company, today announced that it has completed the private placement of $2 million of Series A convertible preferred stock. Net proceeds to the Company were approximately $1.85 million after payment of commissions and expenses incurred in connection with the offering. The preferred stock is convertible at the option of the investors into shares of HomeCom's common stock at a conversion price per share equal to the lower of (i) $13.19 or (ii) 80% of the average closing bid price of the common stock for the five trading days preceding conversion.
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