WCAP - Winfield Capital: Insider buying Message Board

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Microcap & Penny Stocks : WCAP - Winfield Capital: Insider buying

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To: xcr600 who wrote (886)	4/20/1999 8:37:00 PM
From: Tom Hua	Read Replies (2) of 1305

x, I just couldn't shake WCAP out of my skin. After covering 40% at 28, and watched it drop to 26 1/2, I was glad to reshort at 35 3/4. Someone PM me and asked where I got the 0.18 conversion factor for WCAP's preferred stocks into Juno common stocks, so I thought I should clarify it here too. WCAP purchased the Series B shares at $1.42 on March 1, just days before the S-1 filing. In the S-1, the Series B shares are indicated at $7.87. The conversion factor is simply 1.42/7.87. But I didn't stop there. I needed official confirmation. I spoke to 2 different people at Juno. Person A confirmed that there was a reverse split for its Series B preferred stock. Person B confirmed the 1.42/7.87 ratio. I'm leaving out the identities of A and B, but anyone who wants to confirm for himself can PM me for the names and number. Juno IPO is expected to be priced mid May subject to favorable market condition. Regards, Tom

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