Count, you are mistaken to claim that the floorless converts will not be in play for several months. Anyone with any reading skills at all can see that the threat is immediate:
Filed with the SEC on 1/11/99:
edgar-online.com
4 million shares are brand new off of the printing presses and looking for a home. Anyone who questions whether this filing and the recent pump of the price of the stock isn't being sufficiently skeptical in my opinion.
"An estimated 4,608,262 shares of Common Stock, $.01 par value per share, including an estimated 1,615,385 shares issuable upon conversion of 1,050 shares of Series B 4% Preferred Stock, 1,584,615 shares issuable upon conversion of 1,030 Shares of Series C 4% Preferred Stock (collectively, the "Preferred Stock"). 1,208,262 Shares already outstanding and 200,000 Shares issuable upon exercise
of options and warrants. All of the shares of Common Stock offered hereby are offered by the Selling Stockholders for resale. See "Selling Stockholders". The conversion price per share of Preferred Stock is equal to 65% of the average closing price of the Common Stock on the five trading days prior to conversion (or an estimated $.65 per share.)"
Hey Count, do tell us about BIKR and AMEN. It looks like you didn't do so well hyping up those dogs.
Barb |
