Humbly report, Dale, speaking of CCSI, from yesterday's 10Q:
On April 15, 1999, the Company issued an aggregate of $5,000,000 14%
senior convertible debentures due April 15, 2002 (the "Debentures") in a private
placement. Payments of interest on the outstanding principal amount of the
Debentures are due on the earlier of the maturity date or upon any conversion of
the Debentures into the Company's Common Stock. The accrued interest may be paid
either in cash, shares of the Company's Common Stock or a combination of Common
Stock and cash, at the option of the Company.
The outstanding principal amount of the Debentures (together with
accrued interest thereon) is convertible until after the first anniversary of
the closing. At that time, the Debentures are convertible into shares of Common
Stock, at the option of the holder or holders thereof, at the conversion price
of $5.00.
Humbly believe the whole thing is worth a read. 7M+ loss/year.
So, 2.3M more shares out @ $5, and the closing price on Friday was what? $10 3/8? Hmmm.
My personal contrary indicator - on any stock - spoke thusly - #reply-8983015.
I made out like a lucky bandit on the long side of CCSI in the past, from around $8 to I donno, $14 or something? But if I were the shorting type, it'd now be on my watch list.
Cheers,
Svejk
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