SNNT - Synthonics Message Board

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Technology Stocks : SNNT - Synthonics

SNNT 0.00

Sep 17 5:00 PM EST

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To: Obejuan who wrote (26)	3/30/1998 4:43:00 PM
From: John B.	Read Replies (2) of 209

The company tried to do a placement of 500,000 shares of preferred stock last quarter at $10 a share. Based on Note 9 in the annual report, it looks like they were only able to sell 50,000 shares. Each of these shares has the option to be traded for 5 shares of common (our) stock, and they provide a 12% dividend. This would be a great deal if they could justify the stock moving past $2 a share. This is somewhat of a concern. There are however new board members that have some investment savvy. This should help. The other good news is that many of the management incentives kick in at a $4 million booking total. Hopefully they make a lot of bonus money. It would be interesting to find out what their thoughts are on why the placement fell through. John

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