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Technology Stocks : Source Media SRCM

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To: Smilodon who wrote (118)	6/1/1998 4:32:00 PM
From: MW	Read Replies (1) of 3015

Archer; Hello again. There are 2,300,000 public warrants issued back in 1993. They expire in 2000[not sure exactly what month]. Every 2 warrants is convertible into one share of common at $11. They are callable by the co. if the stock trades at $20 or more for twenty consecutive days. Therefore, IF they are converted that's approx. 12,650,000 cash for the co. There are some private warrants from very early investors but I don't believe the numbers are very significant although I'm honestly not sure. Oh, and by the way, the co. is confidant [hopeful] the stock will trade north of 20 again in the not to distant future but I suppose you already figured I[and they] would say that. Clearly your short position is looking very good these days but in case you want to here spin on the price action here go's; A Bloomberg report came out Friday 5/29 of a 144 filing that was both wrong and misleading[I know what you're thinking]. It was wrong in that it stated the selling shareholders were officers of the co, THEY WERE NOT. It was misleading in that it inferred there would be a big block of stock hitting the market but the sale was already done weeks ago.. I believe you saw the transaction and posted about it. If not you someone did, I don't have the time to look for it. And that's not to mention obviously the very weak nasdaq mkt. and especially anything internet related. Don't get me wrong, I enjoy and want to hear contrasting opinions.Only a fool thinks there is no way he could be wrong and I'm no fool. So far though you have failed to convince me. If you could be more specific about their patents I'd love to here it. Don't be fooled by a lack of news regarding MSO agreements. It's not like any competition has made announcements. The cable guys are moving at their own pace and when it's done it's done. Regards; MW

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