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Microcap & Penny Stocks : WCAP - Winfield Capital: Insider buying
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To: Rajiv who wrote (441)3/16/1999 12:28:00 AM
From: Tom Hua  Read Replies (2) of 1305
 
Winfield Capital has purchased about 1.2 million shares of preferred stock of Juno which are convertible, currently on a one for one basis, into shares of common stock of Juno.

Rajiv, WCAP issued the same statement with its holdings in ROWE, Worldgate, and Mpath. We now know that conversion is not on a 1-to-1 basis. The conversion factor of WCAP's preferred shares is 0.39 for ROWE common, 0.667 for Worldgate, and 0.611 for Mpath. WCAP paid $1.43/share for certain Series preferred stock in JUNO only last month. I suspect the conversion factor will be around 0.2.

Regards,

Tom
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