Tokyo Joe's Cafe / Societe Anonyme Message Board

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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme

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To: cool who wrote (2686)	6/4/1998 9:02:00 PM
From: Robert Knight	Read Replies (2) of 8798

John, These guys did a $4.5 million Reg S convertible into common stock at a 20% discount to market. If you do not know how these Convertible Preferred deals work is the momemt the ink is dry on the deal, the note holder goes into the market shorting the shares he knows he will get in 50 days. The lower he drives the stock, the more money he makes and dilution he creates! <g> Go back and look where the stock was when the deal was signed. $3.00 plus I believe. Look where its at the last 5 days of the conversion period.....35cents. Now converting $4.5 million dollars at .35 cents is what 12.8 million new shares? Now these guys are "not supposed" to short the stock per most of these type deals, but believe you me they do. Its an offshore entity doing the Reg S. Unfortunately I learned the hard way with one of these types of deals. Whenever you see one, STAY CLEAR!! JMHO Robert

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