Bilow - I read your post with great interest , re: the new debt instrument. You sound like you know something about this - I would like to get as much info as possible - don't they have to disclose the details , as a public, SEC - reporting company ? Especially if this is a "death-spiral" convertible (or akin to that) , as you have alluded to ?
I am quite familiar with CTYS (Cityscape Financial) - for those who aren't , their stock went from over 30 to under two in one year , as the overall market was soaring.
The dilution in these things feeds on itself, as the note-holder shorts the stock to try to capture some value , which is disappearing day-by-day as the stock collapses. It's not pretty , especially for the longs , most of whom probably won't know what hit them , even after all their spec money has gone bye-bye.
Please keep us informed of any sources , and again , don't they have a legal obligation to release the details ?
Has anyone actually called Amazon to request the info ?? I get more curious all the time... |
