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Non-Tech : InvestRight Club Challenge
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To: Francois Goelo who wrote (1114)3/29/1999 10:48:00 AM
From: Jeffrey L. Henken  Read Replies (1) of 2662
 
I'm concerned about the convertible preferred on UCMP:

sec.yahoo.com

In connection with the issuance of the Series A Convertible Preferred Stock, the Company has certain mandatory redemption obligations if certain events occur, such as upon conversion of the Series A Convertible Preferred Stock if the shares of Common Stock of the Company to be issue would exceed 1,576,000 shares of Common Stock. The Company also has certain optional redemption rights, including, but not limited to, the right to redeem the outstanding shares of Series A Convertible Preferred Stock at a premium of 116% of the issue price.

Despite the buy back plans you could still end up with some real problems that will make UCMP hard to move higher. What do you think?

Thanks, Jeff
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