January Effect Investing 1999 Message Board

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Strategies & Market Trends : January Effect Investing 1999

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To: Dale Baker who wrote (14)	12/31/1998 11:03:00 AM
From: Mark Marcellus	Read Replies (2) of 38

Dale: Re Ergo, maybe I'm missing something, but isn't there a substantial liability for deferred dividends on the Preferred? I've read through the Annual Report twice, and it seems to me that the company still owes them. Also, it's unclear to me what the preferred shares are worth at this point, and what dilution effect there will be (if any). I also read the Annual Report's explanation of the preferred share's value calculation, and I'm confused about that as well. The waters are further muddied by the fact that the preferred conversion is supposed to be effective within 90 days of FDA approval. Since it ain't going to happen, I'm not sure where that leaves the preferred shareholders. It's reading through stuff like this that keeps me invested in companies like Applied Materials and the Gap ;-). FWIW, Mark

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