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Technology Stocks : TAVA Technologies (TAVA-NASDAQ)
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To: C.K. Houston who wrote (12552)3/12/1998 10:15:00 PM
From: Tim J. Flick  Read Replies (2) of 31646
 
CK at last count there were 640,000 warrants unexercised obviously representing 640,000 shares of common stock. The strike price of each warrant is $3 3/8. The transfer agent was informed by Tava on Monday that they intended to call the remaining warrants. Therefore, the transfer agent must now inform all warrant holders of the call, forcing holders to convert to stock or sell. Trading will cease in the warrant after the call period expires. So now is the 30 day period of time where this supply is assumed/perceived to be sold into the market. No one knows how many will be sold, but the MM's short stock believing that most of this supply will come in for them to cover their shorts.
I hope this helps everyone understand the mechanics of what is happening during this time frame.
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