Trinity Biotech (TRIBY) Message Board

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Biotech / Medical : Trinity Biotech (TRIBY)

TRIB 1.050

+7.1%

Nov 28 9:30 AM EST

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To: AgAuUSA who wrote (9777)	7/20/1998 8:20:00 PM
From: dowman	Read Replies (4) of 14328

Let me do the work you refuse to think about. Here are the "rights" of the holders. If the 5 day closing bid is 2 I can convert into stock at a price to me of $1.80 if within 120 days. Taking the same 2 dollar average price after 181 days gives me a conversion price of $1.65. Now following the bouncing ball and repeat after me... this is selling discounted stock, which is guaranteed to be converted because it is a riskless transaction to the holder...The holder can buy stock under the market, no matter what the price might be on the open market. Real companies sell convertibles that might be converted if the underlying price goes up in value. Here you are guaranteed dilution even if the stock goes down, and an overhang of stock for sale. If the future is so bright why is the company willing to "give" the stock away?

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