VitalStream Holdings Inc. (VSTH) Message Board

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Technology Stocks : VitalStream Holdings Inc. (VSTH)

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To: Thomas M. who wrote (135)	7/21/1998 9:25:00 PM
From: Zeev Hed	Read Replies (1) of 447

Thomas, I have not looked in details into this floorless situation, the size is $3.5 MM, and the conversion ceiling is $3.6/share. While they promised a registration statement by August (of the equivalent share, or the dividend jumps to 12%) the owners of the floorless could have begun their "hedging process" long before. There is a small twist here, and these are the attached warrants to buy at $4.5, which are really worthless unless the stock is well above that price. So, we may see a situation in which they do not beat this horse to death, but keep it alive to then pump it up. Actual conversion is not practical until the shares are registered. How many shares are outstanding without the floorless? Right now it seems as the floorless could add more than 2.35 MM shares. Zeev

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