HBCO...Hungarian Broadcast....SEC needs to halt this one Message Board

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Strategies & Market Trends : HBCO...Hungarian Broadcast....SEC needs to halt this one

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To: J.R. who wrote (3)	9/30/1998 12:02:00 PM
From: Rubber Man	Read Replies (2) of 31

In May 1998, the Company contracted for $8.0 million of 6% convertible preferred financing. The Company received $6.0 million at the time of contract and has an option to receive another $2.0 million at the time its registration statement becomes effective. The preferred stock is convertible into common shares at 85% of the then current market value, subject to a limited floor of $4.00 per share, with certain limitations on the number of shares of common stock which can be issued." Latest 10Q delayed, reported August 13. Director Peter Klenner disposed 25% of his shares (95,000) in April at prices between $8 - $9.25.

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