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Technology Stocks : Audio and Radio on the Internet- NAVR

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To: LTK007 who wrote (1475)	12/5/1998 3:51:00 PM
From: TraderGreg	of 27722

I presume that by "toxic" convertibles, you are referring to ones that have no "floor" for conversion. (Bulletin board stocks are notorious for these, usually REG S shares where the company gets a fixed sum of money and the creditor can convert at any price they choose. Those are the kiss of death 'cause they short the stock down to ridiculous levels and then convert a much larger number of shares for their money.) I highly doubt that a listed NASDAQ company like NAVR would find itself in a cash flow crunch necessitating issuance of the above type of convertible. So, If there is a strike price at a level somewhat above current levels, then these are not "toxic" convertibles. TG

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