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

To: Zeev Hed who wrote (601)	7/11/1999 2:56:00 AM
From: incomep	Respond to of 1438

[MKTY] Not only hype, the right offering is also a trick. Stockholders got one non-transferable right for each 16 shares and each right is eligible for one common share at $16. If a right holder is willing to subscribe for additional rights, an additional 125,000 shares is also available for sale. How many retailers who own less than 1600 shares bother to exercise the right? So First Albany got all the right and cheap shares, then run the stock up to distribute to guys. It is also amazing that the stock runs from $4/share to $30/share just in 3 months with no product, no revenue, and burning rate of 3.1 million/quarter. Last Friday is the last day of the right offering, and I expect the stock is trading much lower. I think you should extend your "Don Quixote" role. [gggg] iqc.com