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Technology Stocks : LUMM - Lumenon Innovative Lightwave Technology Inc. -- Ignore unavailable to you. Want to Upgrade?

To: lindend who wrote (1162)	11/20/1999 9:08:00 PM
From: Don Johnstone	Read Replies (2) \| Respond to of 2484

<<sell/sell short>> Friends, LUMM investors, ask for your certificates, so the shorts can't borrow your shares in their nefarious schemes. Let them find some other stock to play with! Cheers, and please don't be lazy now, ask your broker to send you your certificates, It will be the best $15 you ever spent! Believe me. I shall contact mine at the earliest possible on Mon. AM. Please do the same. DJ

To: lindend who wrote (1162)	11/21/1999 9:54:00 AM
From: richroni	Read Replies (1) \| Respond to of 2484

Linden, are you sure these are "floorless"? I could be wrong, but my reading is that they have fixed conversion prices. With regard to the Molex warrants, Lumm issued a release on 11/16 stating that: "Under the agreements announced on May 22, 1999 between Lumenon and Molex Incorporated, Molex was issued warrants to acquire up to 1,666,667 shares of Lumenon common stock at $0.90 before June 2001. Lumenon is pleased to announce that Molex has exercised these warrants for proceeds of $1,500,000. This brings the number of issued and outstanding shares of Lumenon common stock to 23,760,167 (fully diluted 37,209,367)."

To: lindend who wrote (1162)	11/21/1999 11:10:00 AM
From: Steve Landrum	Read Replies (1) \| Respond to of 2484

Linden, I believe you are using the term "floorless convertible" too loosely. My understanding of a floorless convertible is when the conversion price is based upon a future stock price. This provides an incentive for the convertible security holders to short the stock so that they will convert into as many shares at the lowest price possible. I don't see that this is the case here. What incentive do any warrant holders have to drive the price down? I don't see any. While the conversion prices are low, it appears at first glance that the conversion prices reflect the market price near the time when the agreements were struck. (I haven't verified this, but have been loosely following lumm's action)