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Non-Tech : Auric Goldfinger's Short List -- Ignore unavailable to you. Want to Upgrade?

To: Sir Auric Goldfinger who wrote (4676)	1/27/2000 4:55:00 PM
From: RockyBalboa	Respond to of 19428

SCUR reported a loss of 0.34,...which isnot good. Stock offered AM a nice tad lower but no takers. See ya at $6 perhaps in certain time. Company cites Improvements but remains poor in revenue and seeks additional finance, as cited here. In conjunction with the release of fourth quarter financial results, it was announced today that a new preferred stock financing in the aggregate amount of $25 million has been arranged with an institutional investor under common management with Manchester Securities. This financing will be available in three installments, the first $7.5 million of which was drawn near the end of the fourth quarter and has already been converted into common stock. Two additional installments of $8.75 million each will be drawn at the election of either party, the first on or before April 1, 2000 and the second on or before November 1, 2000. This is a convertible preferred instrument with a predefined short conversion window, that for the two future installments is priced at 100% of an average price during the 12 days preceding the settlement date. This financing is subject to a number of terms, conditions and limitations. The investor has no additional call right in this placement nor can the investor maintain a net short position in the Company's stock. The financing replaces the equity line entered into with Manchester in October of 1999.