ROTI - Harvest Restaurant Group Inc Message Board

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Microcap & Penny Stocks : ROTI - Harvest Restaurant Group Inc

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To: V$gas.Com who wrote (1464)	3/12/1999 12:53:00 PM
From: rrufff	Read Replies (1) of 1702

I think that the loan agreement with the Series D people required at least 100,000,000 to be AUTHORIZED. There may be a clause in there requiring more or something based upon an absolute low ball price for the stock at the time of conversion. Again, remember that AUTHORIZED DOES NOT MEAN ISSUED AND TRADEABLE!! I suggest you call the company if you want the specific terms. The bottom line is that this was a risky loan from the Series D people and they wouldn't have done it without an out. If they feel that the company is not making progress, then they can effectively take over the company or force it into bankruptcy, both of which are essentially the same. We have to hope that the company has a plan which is feasible and works out. If the stock moves up, then the conversion ratio will not give the Series D people control. This is all my interpretation and not a legal analysis. I suggest you call the company and make your own judgment. My feeling is that if it works we get a tremendous return of maybe 10X or more. If it doesn't, we lose .30.

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