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To: Ga Bard who wrote (4469)	7/29/1998 9:26:00 AM
From: H-Man	Read Replies (2) of 9440

Bad JuJu: Floorless Debentures.... Tying to educate myself here, there is little info on these wonderful pieces of paper, here is what I found. After spending all night and finding nothing useful, I asked Zeev. His PM to my question (with permmision Gary !): H-Man, the floorless were invented in the last two three years (in essence to replace the dreaded Reg S), thus there is not much literature or any. You must read the conversion terms (and these applies to all type of convertible instruments, debentures and preferred, CTYS was killed with a floorless preferred not a debenture). The simple fact not yet understood by the investing public is that if a company has to accept a floorless it is because their back is financially to the wall, thus the presence of a floorless is a sign of financial weakness, or closed financial markets to the company. Zeev A specific example: Message 5056943

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