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To: Ramsey Su who wrote (33363)6/27/1999 1:55:00 PM
From: Art Bechhoefer  Respond to of 152472
 
Ramsey, the convertibles, if I recall correctly, were unregistered, meaning that they were privately sold in California, and not subject to SEC registration requirements. No doubt, the holders have decided to exchange their shares for common. If they also short the common to protect profits, they may wish to wait until next year to close out the short, avoiding tax liability on the profit this year.


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