Hugh; PFD ; conversions are what is causing most all of the
dilution right now. They get to convert at a discount to the market,
the likely went short the stock, put the shares price down then
convert cheap..and cover their short. This is a win win situation
for them with no risk, the fact that there is not a law aginst it
does not mean its not wrong..it is. CMYN needed money up front
and didn't look at what they were getting into or were mis-lead,
or just don't care. Take your pick.
If they issue more discount type convertables after this then you
know they really just working in collusion with a bunch of other
theives, and are not worth the powder it would take to blow them away.
Fortunatly I did not buy in when this stock was high, for both
me and them, and I knew when I did she was sick..but again not
every person who has a heart attack, or gets cancer dies..many of
them bounce back and go on to live productive lives.
The risk at this level is not enough for me to get sore about
even if they are crooks and she goes belly up.
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So they don't have to worry about getting in
my little "bad news from the doctor book" I have a string of
prospects that is already to long to add to..only way to
put anyone else in is to drop off a few, and it's hard to
re-prioritize a book I've taken years and so much trouble to
compose, of course from time to time a spot does open up
due to natrual causes..hell If I live long enough maybe I have
to rewrite the whole book.
Just kidding about that last part of course. <G>
Jim
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PS
If I get called out on the job remember this, money is
not security..security can not be bought..and none of us
are ever any more secure than our closest friend.
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And don't be mis-lead by thoes who would have you think she
is now only trading on the pick sheets..while they have
some shares to trade she is still trading on the Nasdaq..
small cap. The pinkies have been playing her on the side
for some time now. |
