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Technology Stocks : ISCO-Illinois Superconductor -- Ignore unavailable to you. Want to Upgrade?

To: redbird who wrote (404)	2/28/2000 3:37:00 PM
From: Rajiv	Read Replies (1) \| Respond to of 524

They have issued notes for 2 million - the investor can invest an additional 4 million on the same terms (total of 6 million). biz.yahoo.com ISCO repriced the existing converts/warrants (for an additional 52+ million shares). The Letter Agreement also reduces to $.25 per share the conversion and exercise prices, respectively, of (i) $11.8 million in aggregate principal amount of outstanding senior convertible notes ("Old Notes") and (ii) Warrants to acquire 4,834,782 shares ("Old Warrants") held by the Investors. The Old Notes and Old Warrants originally were issued in May 1998 and March 1999 and, in the case of the Old Warrants, October, 1997. Regards, Rajiv (I do have a small short position)

To: redbird who wrote (404)	2/28/2000 5:57:00 PM
From: Michael D. Christian	Read Replies (1) \| Respond to of 524

Thanks, see if you can access schedule 13d filed on 2/23/00. edgar-online.com I just noticed that there is a new filing on 2/25/00, that we can access tomorrow. The 2/23 filing seems to indicate that Elliott, Westgate and Martley can acquire more than what you noted, page 6. But it also notes that their aggregate ownership is limited to 9.9% at any time, page 5. This is waived if they become directors. Also, their access is to this is spaced over years out to 2004. I don't know how to interpret all of this, except one wouldn't think that they would want to do something to grossly devalue their gains. It also appears that Elliott and Westgate have been routinely buying and selling their shares to avoid a huge buildup of their positions, to avoid conflict with the requirement. Many of the sales have been at below $1. I don't see any buys or sells by Martley though? biz.yahoo.com