tj,
study the term convertable debenture
I'm quite familiar with the term. :-) I've been a member of a "club", for about 1.5 yrs, that searches S-3 filings for converts - the discounted kind, that end up causing dilution enough to often sink the company.
Apparently, I came across as being long KERA - I most certainly am not. However, even if this is, sadly, a company headed for BK, I can't short 'em. It's kind of like going long tobacco, if you know what I mean. It's just a personal call. Not to mention, if you happen to be wrong and they do get FDA approval, well, look out.
Good luck!
Ken |
