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

To: Zeev Hed who wrote (1041)	11/21/1999 12:06:00 PM
From: lindend	Read Replies (1) \| Respond to of 1438

Zeev, Could you look at the LUMM Form 10 and give a brief analysis? I am pleasantly surprised to be having an intelligent discussion on the merits of their private placements and convertibles on the LUMM thread. Its been pointed out that the agreements are not truly floorless as it has a .90 cent floor. My counterpoint is that a .90 cent floor isn't too significant, given the lack of revenues, OTC BB status, lack of R&D expenditures, companies involved in the financing and dramatic need for new financing to execute plans. Thanks.