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Technology Stocks : EFAX.com - easy-to-use fax-to-email technology
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To: Brasco One who wrote (1075)5/10/1999 2:55:00 PM
From: Roger A. Babb  Read Replies (1) of 1197
 
Donny, some time ago I predicted that EFAX would be required to issue a convertible to finance their negative cash flows. While not as bad as a "floorless" convertible, this one has a floor of 60%, or about $13 after one year. Generally, but not always, the market reacts negatively to discount convertibles. We will see how this one goes.
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