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

To: Mama Bear who wrote (877)	8/24/1999 2:25:00 PM
From: Gerald Walls	Respond to of 1438

I decided to end my experiment on AND. I covered my 1000 shares at 5-7/16. One lot was shorted at 6-1/2 and the other at 5-9/16. I'll probably regret it because AND's probably going way down from here, but I made a decent return.

To: Mama Bear who wrote (877)	8/24/1999 2:33:00 PM
From: surelock	Respond to of 1438

Barb, Both Rajiv and myself were commenting on a senario presented in #reply-11046562. The issue being discussed was, as described in that note "straight debt", not convertible. Being a close follower of many micro-cap stocks, I can say it is often a fact that that the only "asset" these companies have is their debt. Why call it an asset? Because this debt can and does get bought and sold as a commodity, and often ends up being converted to common shares. The holders of that debt will often manipulate the share price downwards in order to convert into as many common shares as possible. As unplausable as this may sound, it happens regularly, although is most common in the kinds of extremely small companies that trade on the VSE and bulletin board. There are no restrictions on the percentage of a company that might be purchased in this manner, and in fact in extreme cases, the conversions can result in a change of control of the company.