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Gold/Mining/Energy : Harken Energy Corporation (HEC)
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To: Zeev Hed who wrote (3101)7/5/1998 7:41:00 PM
From: Traveling Man  Read Replies (2) of 5504
 
Zeev,

This "floorless" issue is serious to me. I have a friend on another thread who gave me a very detailed explanation of his bad experience with a company that did this. At the time, he did not understand what it meant. The price spiraled down to almost nothing before he exited. He gave me a good explanation, but I'm too dull to remember it,except that the holders have an incentive to short the common shares, as you have pointed out. I have to believe,as he told me, that it simply gives the current shareholders the "shaft" in deference to the folks who provided them cash they could not otherwise have raised in the standard fashion. Hope I'm dead wrong on this.

TM
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