Floorless Preferred Stock/Debenture Message Board

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Strategies & Market Trends : Floorless Preferred Stock/Debenture

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To: N. Dixon who wrote (118)	10/10/1998 4:01:00 AM
From: Roger A. Babb	Read Replies (1) of 1438

Dixon, just as with other types of "creative" financing, how bad the dilutive effect on the stock price of "equity lines" will vary among companies according to other qualities of the company such as if the company has, or ever will have, any earnings or revenues. REFR is a 30 year old company which had only $60,000 in revenues last quarter and large negative earnings. You and I have agreed to disagree on future revenue prospects. Your contention that REFR can somehow make money by manipulating its share price with buybacks is pure baloney. The company will rise or fall purely based on earnings and revenues, economic laws have not been repealed.

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