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Strategies & Market Trends : Rande Is . . . HOME

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To: Steven Finkel who wrote (5498)	4/14/1999 2:31:00 AM
From: Tummus1	Read Replies (1) of 57584

Steve I see that you stated that the conversion on the warrants is $4. I found the passage below in the latest Edgar filing and am trying to make sure that it makes sense to me. It states that the conversion is $16 but takes into accounta four to one split. Is this where you get he $4 and if so how? Thanks TW "Each unit sold in the offering consisted of two shares of common stock and two redeemable class A warrants. The common stock and class A warrants were detachable and trade separately. The class A warrants are exercisable commencing one year from the Effective Date. Each class A warrant entitles the holder to purchase one share of common stock at $16.00 per share (after giving effect to a one-for-four reverse stock split of the common stock effected May 19, 1998 (see Note 9) and subject to adjustment for anti- dilution) during the four year period commencing one year from the Effective Date."

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