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 (146)	10/11/1998 8:20:00 PM
From: Mama Bear	Read Replies (1) of 1438

ND, you keep repeating that all the options in the financing belong to REFR, and that is inaccurate. They may not set a floor of 15 and force Ailorous to buy at that price unless the stock is over $16.31. Ailorous has the option to refuse. You continually state that REFR is buying back shares in order to retire them. Yet they file an S-3 to sell shares. You have stated that REFR has bought back enough shares to cover the B warrants. Where did you find that information? Barb

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