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Strategies & Market Trends : Floorless Preferred Stock/Debenture
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To: Roger A. Babb who wrote (116)10/10/1998 4:14:00 PM
From: Zeev Hed  Read Replies (1) of 1438
 
Roger, I call those the "Leaky floorless Instruments", TTRIF is a prime example, those robbers have no shame, in their last annual report they took the ceiling off the number of shares authorized, they went from about 45 MM shares August 1997 to more then 185 Mm shares at last count. RNTK has a leaky floorless as well.

HEC has a new version in which the floorless feature is delayed until later (like in 1999 or so).

Zeev
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