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Technology Stocks : e.Digital Corporation(EDIG) - Embedded Digital Technology
EDIG 0.00010000.0%Mar 20 5:00 PM EST
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To: LT who wrote (2237)2/7/1999 6:08:00 PM
From: Starlight  Read Replies (1) of 18366
 
The warrants have been the main drag on this stock for the past couple of years. However, you'll have to go back and read the EDGAR filings to get the whole story. We were told at the annual meeting that they felt that most of the warrants have now been converted. These warrants, when originally issued, HAD NO CONVERSION PRICE SPECIFIED. That's what dragged the stock down for the past two years. The warrants were re-negotiated (I believe in the past year) with a specified conversion rate, but still there were a huge no. of shares involved in the conversion. Again - a drag on the stock. Here's an EDGAR filing for registration of some of these shares. The new conversion rate was 8 cents.

freeedgar.com

Look at the S-3 filings.
Probably one reason the stock has moved up lately is not only from the news about the company, but also the fact that there is no longer a huge number of shares for sale flooding the market from the conversions. Good riddance!! I'd venture to say that most of the warrant conversions got out under 10 cents a share. Serves them right for selling so fast.

(Jim - do I have this right? You were at the meeting. Did you hear them say this about the warrants?)

Betty
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