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

To: Larry Brubaker who wrote (998)	10/8/1999 4:35:00 PM
From: Larry Brubaker	Respond to of 1438

CYBD does a floorless. Quote from 8-K released today. "the Preferred Stock is convertible into shares of the Company's Common Stock, par value $0.01 per share (the "Common Stock"), at a price that is equal to the amount obtained by multiplying 100% (subject to adjustment) by either (i) that price of the Common Stock which shall be computed as the arithmetic average of the three lowest Closing Sales Prices (as defined in the Certificate of Amendment) of the Common Stock during the twenty consecutive trading days immediately preceding the date of such determination and (ii) the Closing Bid Price (as defined in the Certificate of Amendment) on such date, whichever is lower. Such amount shall not, in any case, exceed $5.43 subject to certain adjustments as set forth in the Certificate of Amendment."