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Strategies & Market Trends : CXI-Commodore Environmental
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To: Russel W. Kennel who wrote (747)5/3/1998 5:19:00 PM
From: KewlHand   of 1755
 
The lower COES ownership of CXI is all sleight of hand, part of
the financing deal was to issue a bucketfull more warrants to COES,
and to lower the exercise price of the ones COES were already
holding. The net effect of which is that, COES has a lot of 'hidden
value' in CXI and should the stock perform sufficiently for the
warrants to be exercised, then COES will be firmly back as majority
shareholder of CXI.

Believe me, these guys are not short of a wits when it comes to
creative accounting techniques. It does of course make COES a great
long term bet, but my money (medium term) is on CXI.
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