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Strategies & Market Trends : Rande Is . . . HOME

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To: Rande Is who wrote (5816)	4/20/1999 4:53:00 PM
From: Rande Is	Read Replies (2) of 57584

Regarding TPEGP, from the filings. . . . This is Series A convertible. . .but still not sure what the conversion is. . . but historical trading logs show that the preferred has always sold for MORE than the common, since issued about 5 years ago. So there is no reason to think they should now be less. . .I checked several years of filings and can only come up with the paragraph below on series A. There are also series B through E, but they appear to be private placement. Series A is paying a .10 cent dividend later this month. It seems to pay about .40+ cents per year to the preferred A series. The Company has never declared or paid cash dividends on its Common Stock. The Company has outstanding 1,000,000 shares of Series A Preferred Stock which is entitled to annual dividends aggregating $425,000. At the option of the Company, dividends on the Series A Preferred Stock may be paid either in cash or in shares of Common Stock valued at the then market price, as defined. Hope this clears a little up. You guys know that whenever I have a choice between common and preferred, I always prefer preferred. Rande Is

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