Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: Mama Bear who wrote (4699)	1/17/1999 4:46:00 PM
From: xcr600	Read Replies (1) of 122087

Barb, does the following prevent the IMON covertible holders from converting all at once? edgar-online.com << The holders of Preferred Stock do not have the right to convert to the extent that such conversion would cause the holder to "beneficially' hold more than 5% of the outstanding shares of Common Stock, as such terms defined in Rule 13d-3 of the Securities Exchange Act of 1934. >> Can the preferred convert and sell in the same action or is there some sort of lag in time? I would think that they could convert and sell continuously, so they would never hold more than a 5% stake during the day. The market just needs the ability to absorb these shares without killing the price. If I'm wrong please correct. Thanks x

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