Bid /Ask Spreads - Market Manipulation Message Board

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Non-Tech : Bid /Ask Spreads - Market Manipulation

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To: SE who wrote (257)	2/2/1997 3:34:00 PM
From: Jim Sanders	of 308

Scott: As I read the terms of the amended conversion agreement, the warrants are exercisible at $5.22/sh. Unless the stock is trading above $5.22 during the life of the warrant, then the debenture holders are not going to exercise the warrants. Even if they do, the Company gets $5.22 for every share purchased. If the market price is $5.22 or more at that time, then I 'll be a very happy camper, dilution or not. Also, as far as the debenture conversions, if they convert then the debt is eliminated. Yes there will be dilution, but if they don't convert, then the Company has to pay interest of about 1MM per year. That could take quite a toll on the bottom line. Just my observations.

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