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Technology Stocks : Ampex Corporation (AEXCA) -- Ignore unavailable to you. Want to Upgrade?

To: Carl R. who wrote (9331)	6/18/1999 2:07:00 AM
From: Hal Campbell	Read Replies (2) \| Respond to of 17679

Carl, this isn't really my area of understanding. Jubimer or Steve Leahy would best address this issue. I had been told that the original debt - the source of the various chameleon restructured bargains struck over the years - represented substantial initial profit on distressed debt. What they get now is all gravy. If they were that unhappy I doubt if they would have agreed to the restructuring last summer. They did get that initial 3 million shares of common stock. Bramson ( if I am not mistaken, and again I may well be on any of these points ) hold a substantial portion of this debt himself. Clearly many did sell the convertible preferred...capped the January rally. And many may be shorting now, as you describe. + I do not know how they determine the average price for the month ..... is volume a factor? Do they just take the closing price of each and every market day and divide? If someone did not use the shorting technique,and each market day was equally weighted,and the stock soared the days after the meeting on the twenty eight, each holder would get a given number of shares at a price basis substantially lower than the price on the 30th. And it would prove much more profitable than if they had used the other technique. They would likely remember that in future quarters. But all strictly hypothetical....perhpas fantastical is a better adjective. We shall soon see how it all plays out in reality. ( BOY there is alot of potential weight on that webcast).