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Strategies & Market Trends : Floorless Preferred Stock/Debenture -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (509)	6/26/1999 9:37:00 PM
From: DoubleOddBuck	Read Replies (1) \| Respond to of 1438

when the stock is $4 plus, a nickel seems pretty floorless to me. in the 81 pages of the document I took that from I can't find any other reference to a conversion price. There is nothing stopping the holders of those 2 Million preferred to convert at a nickel and turn around and sell it at $4 is there ? I got a lump in my stomoch all of a sudden... It would also be a bad thing if those 2 million preferred which convert to 10 Million common were registered to a Cayman Island company also I gather.