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Strategies & Market Trends : Roger's 1998 Short Picks
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To: vegetarian who wrote (954)1/19/1998 12:26:00 AM
From: Instock  Read Replies (2) of 18691
 
M.Carter: Another interesting twist to the HCOM saga is that the preferred cannot be converted till thirty days after the filling on or before Jan 31st. Half can be coverted after 30 days and another half after 60 days.
How does this play into it all?
Seems to me that they can't be shorting the stock now, but would have to wait the 30 days after filling.

From Dec Press Release:
Further, the investors have agreed that they will not convert more than one-half of the preferred stock until 30
days after the effective date of a registration statement covering the resale of shares of common stock issuable upon conversion of the Company's 5% convertible
debentures which were placed in October. The second one-half is not convertible earlier than 60 days after the effective date of such registration statement. The
preferred stock may be redeemed by the Company, at its option, at any time by payment of a redemption price equal to 125% of the purchase price for the preferred
stock, plus any accrued dividends.

Instock
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