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Technology Stocks : Audio and Radio on the Internet- NAVR

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To: C Wright who wrote (5230)1/26/1999 9:16:00 AM
From: Lane Hall-Witt  Read Replies (1) of 27722
 
It should be specified in the SEC filings (not yet available on Edgar); the key to the puzzle is that the convertibles contained "beneficial conversion features" that must be accounted for as a dividend. We need to have details about the conversion features. Probably, it's a way of accounting for the fact that Preferred shareholders got their Common Shares at a discount to the market price.
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