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Microcap & Penny Stocks : Diversified Senior Services, Inc. (Nasdaq: DISS) -- Ignore unavailable to you. Want to Upgrade?

To: Bernard Deutsch who wrote (10)	7/21/1999 6:48:00 PM
From: zonkie	Respond to of 14

I think the snip below from the S-3 just about sums it up, don't you Bernie? It looks to me like another deal for investors to get the hell away from as fast as they can and not look back. sec.gov >>>>>After January 29, 2000, the Series B preferred stock is convertible at a floating rate that may be below the market price of the common stock. As a result, the lower the stock price at the time the holder converts, the more common stock the holder will get upon conversion. To the extent the selling security holders convert and then sell their common stock, the common stock price may decrease due to the additional shares in the market. This could allow the selling security holders to convert their convertible preferred stock into greater amounts of common stock, the sales of which could further depress the stock price. The significant downward pressure on the price of the common stock as the selling security holders convert and sell material amounts of common stock could encourage short sales by others in which the short-sellers borrow common stock at the current market price in hope to buy it in the future at a lower price. This could place further downward pressure on the price of the common stock. In addition, the conversion of the convertible preferred stock may result in substantial dilution to the interests of other holders of common stock since each holder of convertible preferred stock may ultimately convert and sell the full amount issuable on conversion. Although each selling security holder owning Series B preferred stock may not convert their preferred stock if, as a result, they would own more than 9.99% of the then outstanding common stock, this restriction does not prevent those selling security holders from converting and selling some of their holdings and then converting the rest of their holdings. In this way, an individual selling security holder owning Series B preferred stock could sell more than 9.99% of the outstanding common stock while never holding more than 9.99% at one time. <<<<<<

To: Bernard Deutsch who wrote (10)	8/5/1999 11:57:00 PM
From: Bernard Deutsch	Read Replies (2) \| Respond to of 14

Today's news... Diversified Senior Services Opens 2nd Assisted Living Facility in Two Months. Location in Small Underserved Southeastern Community is Cited as One of The Major Reasons For Facility's Rapid Rate of Occupancy WINSTON-SALEM, N.C., Aug. 5 /PRNewswire/ -- Diversified Senior Services, Inc. (Nasdaq: DISS), a senior living and assisted living company, today announced the opening of an assisted living facility with 60 private rooms in Mocksville, North Carolina, the second 60-door, 60 resident assisted living facility the company has opened in North Carolina in the past two months. According to William G. Benton, Diversified chief executive officer, "10 residents moved in during opening week and, including those, we had reservations and applications adding up to 50 per cent of the rooms, leading us to believe we would be fully occupied well within a year, perhaps as soon as within six months." He described this occupancy rate as "highly unusual in the industry, and certainly well ahead of industry standards." Benton attributed this high rate of occupancy to the fact that competition is almost non-existent in a small town like Mocksville. "We had virtually the same experience," he noted, "with Somerset Court of Hamlet, the 60-door AL facility we recently opened in Hamlet, North Carolina." Diversified's philosophy, he said, is to develop properties for low to middle income residents in relatively small southeastern communities where there is little if any competition but where the need is significant "Our social view is that by developing assisted living facilities in small underserved communities, the residents can be close to their families and friends and see them everyday if they choose. Our business view is that it makes good economic sense since we don't have to struggle against competition and our residents will remain loyal to us if we do our job well." As in Hamlet, the rooms in Mocksville rent for $1,500 a month, well below the $2,000 or more a month charged by many facilities for private rooms, and include three meals and a variety of snacks a day, and staff to provide medication monitoring, housekeeping and linen service. Some of the features of each room include individually controlled heating and air conditioning, cable television, in-room hospitality-type telephone service and a state-of- the-art emergency call system. Diversified has three additional 60-door facilities in various stages of construction. Two 30-door facilities, devoted exclusively to independent living, also are under construction. SOURCE Diversified Senior Services, Inc. -0- 08/05/99 /CONTACT: Bill Benton, CEO, or Jody Ragan, Investor Relations, of Diversified Senior Services, Inc., 336-724-1000, or Paul Keil of ACC Communications LLC, 805-693-8947, for Diversified Senior Services, Inc./ -- CHTH001 -- 6165 08/05/99 08:31 EDT prnewswire.com Copyright PR Newswire 1998. All rights reserved.