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To: brad greene who wrote (1287)10/21/1999 10:48:00 AM
From: Jon Scott  Read Replies (1) | Respond to of 1570
 
Limit @ 1 15/32 partial fill
Mkt order was slow fill @ 1 1/2
There are no shares for sale and this thing is about to move fast and hard



To: brad greene who wrote (1287)10/21/1999 10:51:00 AM
From: Mike Sawyer  Respond to of 1570
 
Brad, if my calculations are correct, every 300 shares of common stock that are put into this plan will return 504 shares. Not a bad dividend. Much better than the last one! I think I will participate. Time to load up I guess...as others have figured out.

Cheers!



To: brad greene who wrote (1287)10/21/1999 11:07:00 AM
From: PistolPete  Read Replies (2) | Respond to of 1570
 
Yep, I've read it...

What is kind of up in the air to me, and I have someone looking at it to try to help me understand it better, is the fact that it seems that if a long sends in his common (tradable) shares in exchange for 1:2 Conv. Pref A, he is then restricted for an unspecified period and can only trade the Conv. Pref in for Common at 1:3 after a year.

Not only does it get rid of the float, and open the door for some kind of secondary offering, I presume, it keeps anyone here now from selling the stock for a long time. If that's true, the it is kind of a weird thing to do, since the people left now are the only one who HAVEN'T sold at least some of the stock (I sold all 15,100 of mine and hold warrants for 15k more). Which leads to another question...

What happens to the warrants?

Not saying this is necessarily bad, just saying I don't completely get it. If anybody here is sure that they do get it, I'd appreciate your viewpoint.