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

To: Zeev Hed who wrote (575)7/9/1999 2:20:00 AM
From: David Sirk  Read Replies (1) | Respond to of 1438
 
Howdy How can you assume that this is a floorless when this is the only info that you have?

The sales agreement with GEM Advisors Inc. is for a term of five years and the stock is
convertible at the lesser of $1.00 per share or 65% of the average daily bid price for the five
trading days immediately prior to conversion.



To: Zeev Hed who wrote (575)7/13/1999 12:22:00 PM
From: Daniel Chisholm  Read Replies (2) | Respond to of 1438
 
Zeev,

...those residing on the BB, there are no legitimate short sellers.

Just because many US brokerages deny their clients (via house policy) the ability to short OTC-BB stocks does not mean that there are no legitimate short sellers of OTC-BB scam stocks. Some US brokerages (as I understand it) do allow OTC-BB stocks to be shorted -- and beyond the USA there's also the ROTW (Rest Of The World ;-)

- Daniel


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