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


To: RockyBalboa who wrote (867)8/24/1999 9:03:00 AM
From: Joe Copia  Respond to of 1438
 
Got it.

Very nice explanation.

Joe PTG&LI !!!



To: RockyBalboa who wrote (867)8/24/1999 5:43:00 PM
From: Mark Ivan  Respond to of 1438
 
InfoStream,

Got it.

I realized there would be some share left over after covering, but I just wanted to make the point that they did have to cover their shorts. It's a no brainer if you know you can drive the price down to 2 cents by shorting and know you won't drive the price back up by buying back the shares (ie, you'll be handed 2MM shares in exchange for debt relief).

Mark