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Microcap & Penny Stocks : SEDONA Corporation (SDNA)
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To: Jerry Rush who wrote (492)8/7/1998 12:14:00 PM
From: Ted Zeilstra  Read Replies (1) of 731
 
It appears as though maximum potential dilution is 4,260,360 shares. This assumes conversion of preferred at $3.00.

What was not in the release, is that if the stock trades at a bid price of $3.53 for 5 consecutive trading days, ALL restrictions on converting are lifted. They won't have to wait till 2/1/99 and they can convert 100% of the remaining preferred shares.

BUT

If they do convert before 2/1/99, regardless of the price of the stock, they lose a pro rata portion of the new warrants!

Think about it.
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