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Technology Stocks : Big Flower Holdings(BGF)-The next CMGI?
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To: .com who wrote (14)3/21/1999 4:18:00 PM
From: Glenn Petersen   of 66
 
"One needs to carefully do their own DD when reading these posts on SI." Amen, brother.

Just to amuse ourselves, lets assume that each of the Series C participants purchased a ratable share of the preferred stock. Post conversion, BGF would own 145,687 shares of the World Gate common stock at $16.50 per share. From all indications, WorldGate appears to be a hot issue. Lets say it pops to $50. That give BGF a $4.9 MM gain spread over approximately 19.7 MM shares. $.25 per share, untaxed and restricted. Hardly worth the effort.
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