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

To: Rajiv who wrote (857)	8/23/1999 9:16:00 AM
From: kbert	Respond to of 1438

THIS IS ONE OF THE MOST USEFUL THREAD ON SI!! Thanks :) Archie

To: Rajiv who wrote (857)	8/23/1999 9:31:00 AM
From: Zeev Hed	Read Replies (2) \| Respond to of 1438

Rajiv, it should be helpful seeing the actual s-3 on which these shares are registered, but from the release this looks like the "leaky" floorlees. The stock's pattern is already very weak, indicating a possible decline to the low 4'. However, if you want to classify this one as a fish on a barrel, it would be helpful to determine what their burn rate is and when they can be expected to be positive cash flow (if ever). I just do not have the time this week to even look at this one. I think that the ceiling is around $9 plus or a little more, so they may run it above that before it get hit. There was something in the release about a ceiling 180% above market, but not knowing which price is the base I have no idea what they are talking about in that one. Good luck. Zeev