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

To: Zeev Hed who wrote (1150)	4/9/2000 3:07:00 PM
From: Ed Ajootian	Respond to of 1438

Z-Man, How goes it? Been a long time. There are 2 floorless situations that I'd like to bring to your attention to see what you think: 1) Queen Sand Resources (QSRI). They issued "repricing rights" to various parties in the past and these have kept the stock price down in spite of very positive drilling results and increases to the price of natural gas. Do you think such positive developments could ever overcome this horific overhang? 2) Meridian Resources (TMR). They gave a "make-whole" provision to Shell when they bought some properties from Shell a coupla years ago, and gave some convertible preferred stock. This will result in TMR having to fork over about $25 on June 30 plus similar amounts in each of the next few years unless the stock price recovers. Since they're about to sell >$100 M of properties this problem would not seem to be too bad, but the market is still spooked. Would be interested in your thoughts. Ed

To: Zeev Hed who wrote (1150)	5/17/2000 12:19:00 PM
From: xcr600	Read Replies (1) \| Respond to of 1438

How bullish is this for the stock? biz.yahoo.com Westell Technologies Reports Completion of $20 Million of Convertible Debt to Common Stock Leading DSL Provider Reports Conversion of 6% Note to Class A Common Stock AURORA, Ill., May 16 /PRNewswire/ -- Westell Technologies, Inc. (Nasdaq: WSTL - news), announced today that the $20 million convertible debt placed in April 1999 has been fully converted into 3.2 million shares of Class A common stock. The securities were originally purchased by Castle Creek Technology Partners, Marshall Capital Management-an affiliate of Credit Suisse First Boston, and CVI, an affiliate of Susquehanna Capital. Chase H & Q advised Westell on the original transaction. With the conversions, Westell Technologies' now has approximately 57 million shares outstanding and approximately 66 million shares on a fully diluted basis. ``The conversion of this debt to equity further strengthens our balance sheet and validates our operating model,'' stated Nick Hindman, Westell Technologies Chief Financial Officer. ``In the past year we have demonstrated growth and tight controls on our spending and look forward to FY2001.'' Westell Technologies, Inc, headquartered in Aurora, Illinois, is a holding company for Westell, Inc. and Conference Plus, Inc. Westell, Inc. manufactures and licenses DSL systems, value added CPE and manufactures telecommunications access products. Conference Plus, Inc. is an Application Service Provider that manages and hosts electronic meeting services including voice, video, IP conferencing and back-office applications. Additional information can be obtained by visiting Westell's Web site at www.westell.com. ``Safe Harbor'' statement under the Private Securities Litigation Reform Act of 1995: Certain statements contained herein are forward looking statements that involve risks and uncertainties. These risks include, but are not limited to, product demand and market acceptance risks the impact of competitive products and technologies, competitive pricing pressures, product development, excess and obsolete inventory due to new product development, commercialization and technological delays or difficulties (including delays or difficulties in developing, producing, testing and selling new products and technologies), the effect of Westell's accounting policies, the effect of economic conditions and trade, legal, social, and economic risks (such as import, licensing and trade restrictions) and other risks more fully described in Westell's Annual Report on Form 10-K for the fiscal year ended March 31, 1999 under the section ``Risk Factors.'' Westell undertakes no obligation to release publicly the result of any revisions to these forward looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. SOURCE: Westell Technologies, Inc.