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

To: Larry Brubaker who wrote (1139)	2/12/2000 3:03:00 PM
From: Zakrosian	Read Replies (1) \| Respond to of 1438

Is this one a floorless?http://biz.yahoo.com/e/l/c/cpcf.ob.html In the private placement, the Company is offering a total of 235,294 shares of Series A Preferred Stock at a price of $8.50 per share, pursuant to Rule 506 under the Securities Act of 1933 as amended. The Series A Preferred Stock has no voting rights. Each Series A Preferred Share is convertible into Common Stock at a conversion price of $8.50 per share, however, on December 31, 1999, the conversion price shall be adjusted to the lower of (i) seventy-five percent (75%) of the average last sale price of the Common Stock for the thirty (30) trading days immediately preceding such date as reported on any stock exchange or (ii) $6.38 per share. As of September 30, 1999, the Company had sold 74,588 shares of Series A Preferred Stock for the gross proceeds of $634,000. As of November 15, 1999 the Company has closed the Series A Preferred Offering upon its receipt of an additional $40,000 for 4,705 shares of Series A Preferred Stock being sold in November.

To: Larry Brubaker who wrote (1139)	3/3/2000 4:25:00 PM
From: Bosco	Read Replies (1) \| Respond to of 1438

G'day all - I saw a small cap biotech stock, KOOL, running like mad today. Out of curiosity, I took a quick peep into some of its SEC filings. freeedgar.com It seems to be floorless to me. However, the follow on question in my head is this. Ok, so what if it is true. Biotech is hot, is it better for the financial engineers to behave themselves this time and get a 10 baggers instead, if the company technologies are worth it? Or, old habits die hard? Any opinion? best, Bosco