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Microcap & Penny Stocks : WCAP - Winfield Capital: Insider buying
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To: Rajiv who wrote (436)3/15/1999 11:05:00 PM
From: Tom Hua  Read Replies (1) of 1305
 
Rajiv, I received a PM which brought up a good point related to this post of mine:

Message 8242842

The question posed to me was that I might be wrong to assume a 1-to-1 conversion of WCAP's preferred stocks to common stocks in the IPOs for Juno, Mpath and Worldgate, given the fact WCAP's preferred stocks in Rowe (which ipoed last week) are converted to common shares with a conversion factor of about 0.35

Since WCAP just purchased the JUNO preferred shares at $ 1.43/share last month, and the IPO is coming in a matter of months, it's quite possible that WCAP's preferred shares will be converted with a conversion factor much smaller than unity.

Regards,

Tom
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