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Gold/Mining/Energy : Harken Energy Corporation (HEC)
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To: MskiHntr who wrote (3420)8/16/1998 12:18:00 PM
From: SDR-SI  Read Replies (1) of 5504
 
Not to promote the concept on this thread, but I think Zeev's concept of a "floorless" is a financing in which the holder can obtain more and more shares with no limit due to the fact that the indenture for the financing allows conversion at ANY price, no matter how low, at a number of shares determined by dividing some constant number by the share price at a time of conversion controllable by the holder.

Such a financing out of control of a company would clearly be detrimental, if the company's stock price could be maneuvered downward by the financing holder.

I just can't see where that is applicable to any seriously detrimental degree here, but that's just my opinion. However, I do think the opinion is shared by quite a few others who have sizeable stakes in HEC stock, including the management of HEC.

Steve
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