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Microcap & Penny Stocks : PLCO Internet collectables, childrens toys...etc -- Ignore unavailable to you. Want to Upgrade?

To: Pied Piper who wrote (722)	8/29/1999 3:01:00 PM
From: Pied Piper	Read Replies (2) \| Respond to of 1296

Another thing I have just noticed about the warrants. "The Warrants are redeemable by the Company at any time, commencing one year from the Closing Date, upon 30 days' prior notice, at a redemption price of $.05 each, provided that the closing bid quotation of the Series E Stock for at least 20 consecutive trading days, ending on the third day prior to the date on which the Company gives notice, has been at least 170% of the exercise price of the Warrants being redeemed." Correct me if I'm wrong but this seems to say that if PLCOP trades higher than 1.7 * $5 ($8.50) then the company can redeem the warrants. So if I hold PLCOW, I can buy PLCOP at $5 but I can only do this until they are trading at $8.50. Well maybe somewhat higher since they have to give 30 days prior notice and PLCOP could rise during that period. However, it is a limitation on the potential gain of PLCOW. The more I get into the ins and outs of PLCO/PLCOP/PLCOW it seems to me that the risk/return of PLCOP, at this point in time, wins hands down. Comments? Piper