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

To: Jeffrey S. Mitchell who wrote (923)	8/31/1999 5:26:00 PM
From: RockyBalboa	Respond to of 1438

IARC, I see: It is the ol' Alydaar (ALYD). IARC didn't ring a bell. To the hell with all the ticker changes. No matter what the color of the doghouse is, you will always find a dog in it (as long as it's alive). Jeff, besides that: it is NOT uncommon to seek share holders approval to have additional shares registered (> 20%) (Recently ENML, and ICCS did). -if the company has no cash to buy back the unconverted part (if the stock price is small). -if the debenture holders are not only interested in selling and maximising returns but also to get a major part of the company very cheap (by indicating they want to own more than 20%). Otherwise, the pumping, selling & converting could happen in several tranches, each of one reaching a price, in which a conversion could yield 19.99% of the then O/S shares.