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

To: lindend who wrote (1169)	11/21/1999 12:58:00 PM
From: Mike Hardy	Read Replies (1) \| Respond to of 2484

Linden remember one thing floorless convertibles or convertible issues in general are done with hedge funds(sharks) this deal was done with a partner MOLEX. Also in convertible deals usually the lower the stock goes the more shares they get but in this case the amount of shares and the price have already been negotiated. The recent press release stated molex has exercised their warrants, if you look at the 10k, -------------------------------- Under the Stock Purchase Agreement, Molex agreed to purchase 3,000,000 shares of the Common Stock of Lumenon (the "Common Stock") at a price of $0.50 per share in two stages. The first closing was held on June 21, 1999 for 1,500,000 shares of Common Stock and the second closing is scheduled for March 2000 for an additional 1,500,000 shares of Common Stock. The second closing is contingent upon Lumenon's progress in proving its technology and its ability to manufacture and deliver certain DWDM devices.Lumenon also issued to Molex a warrant to purchase 1,666,667 additional shares of Common Stock at a price of $0.90 per share. The warrant expires in September 2001 and the exercise is subject to Molex fulfilling its obligations under the Teaming Agreement. All rights relating to the warrant will be extinguished if Molex elects not to proceed with the second closing under the Stock Purchase Agreement. ------------------------------------------------ Lumm has proven itself,imo that is why the stock has been going up. Note to any shorter: This is not your typical otc bb pump and dump this is for real,ask your self why the stock has been holding up for the past several weeks when normally these bb stocks come crashing down.You can make 1-3 points on the short side because of the small float and the volatility but don't get greedy or you're going to get burned.LUMM is for real,i'm not basing this on phone calls and message boards, i live 10 minutes from the lumm pilot plant. FWIW