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C.J. -- Thanks for posting that stuff from EDGAR. Unfortunately, you have the wrong five days. No surprise - this is yet another case of classic "death spiral convertibles," "exploding preferred," or whichever slang is your favorite. Obviously, OSFT is in fairly dire financial straits at the moment, because everyone knows by now what happens when you give someone a right to convert a preferred without a conversion price threshold: the stock will be mercilessly shorted before the conversion, in order that the preferred may be converted into a greater number of shares of common. And it will be repeated as the stock price is driven lower and lower, until the chart looks like a ski slope. In this case, there are also those goofy "reset" provisions. Even though things are complicated here by that provision prohibiting anyone from going over 4.95%, my quick conclusion (let someone who owns it analyze it more thoroughly <g>) is EVERYONE OUT OF THE STOCK!!! Women and children first! Seriously, anyone who doesn't understand this filing needs advice from a more experienced investor immediately. As for me, I am going back to my little AVAL thread and will no longer follow this stock. Good luck everyone - Eric |
