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Technology Stocks : XYBR - Xybernaut
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To: Jason Flora who wrote (2162)3/6/1999 8:19:00 PM
From: LT  Read Replies (1) of 6847
 
There is no such thing as a "cashless conversion" per say. Someone has to pay to convert the warrant. Perhaps not the holder, if he can run a deal with someone who has cash, to pay for the conversion, then repay that person [plus a fee] fronting the money, out of the sale proceeds. It's not "cashless" it just doesn't take cash from the warrant holder. All of this talk, however, pre-supposes the common stock share value is higher then the strike price of the warrant. Not the case so far with XYBR

LT
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