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

To: s-words who wrote (1950)	7/31/2000 1:05:46 AM
From: Fred McCutcheon	Read Replies (1) \| Respond to of 2484

An event of default is not the same as the company being worthless. The company could be of signifigant value but unable, for reasons of liquidity or a patent suit or some other cause, to remedy one of the many "acts of default" that may occur under the convertible note. In this case the acquisition of 35 billion shares, the odd million or so of which might be used to cover the hedged short position, would be total (greater than 99%) control of the enterprise with no value left for the rest of us. JMHO Fred McCutcheon