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Non-Tech : Bid /Ask Spreads - Market Manipulation
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To: Jim Sanders who wrote (259)2/2/1997 6:03:00 PM
From: Sidney Reilly   of 308
 
Jim,
If I understand correctly you are saying that the warrants represent an option for the investors holding them to buy shares at a future date at 5.22 per share and that is aside from the main issue of stock conversion for debt. If the stock was at 8 they might execute the warrants for shares at 5.22 which they would be able to sell at an instant profit. If the stock is below 5.22 they would pay more than the stock was worth so they would not exercise the warrants but let them expire. The conversion for debt takes place as contracted regardless of the warrants part of it. Does that sound right? Bob
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