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Technology Stocks : Fastcomm FSCX (6 1/8), base now complete. Big Upside.
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To: scope who wrote (540)2/21/1998 10:40:00 PM
From: Thomas Kirwin  Read Replies (1) of 802
 
Convertible Debentures!

Scope,

Please fully explain your terminology of "Floorless Convertibles". By the by, is "Floorless" a word? The Insider Trader (IT) gives these securities a high five. Here is an excerpt from IT on this subject.

"FastComm's balance sheet is sufficiently strong. The company issued $5.0 million in 5.0% convertible debentures in the first half of 1997. These debentures employ the use of increasing numbers of warrant allotments to encourage holders to retain their debentures until at least 2001. Moreover, the company can reduce its debt structure since it retains the right to convert the holders to preferred shareholders at any time. FastComm's current ratio is 4.9:1 and, except for the debentures, the company has no other long-term debt."

I look forward to your detailed response.

Regards,

Tom
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