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Pastimes : The Big Tex House of Coin -- Ignore unavailable to you. Want to Upgrade?

To: BigTex who wrote (8361)	10/26/1999 5:34:00 PM
From: Robert B.	Read Replies (1) \| Respond to of 19297

If the financing people are the sellers... I think the debt was $500,000 and 300,000 shares were converted. I may be mistaken. Anyway, the selling has been going on for a while (which is why we have this nice low price). So, they may already be cleared out or closer to it than we think. However, the stock is probably restricted. So when they are selling, they are actually taking a short position. They know they will obtain long shares when the conversion takes place and are keeping the price down so they can maximize the number of shares they get. 2 problems with this: 1) it's illegal 2) The CEO said that they are seeking new financing to retire the old financing. If this happens, the old financing dudes will be left with a huge short position and no converted shares to cover their ass with.