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Strategies & Market Trends : Pump's daily trading recs, emphasis on short selling -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (6541)	7/17/2002 12:40:52 AM
From: Michail Shadkin	Read Replies (3) \| Respond to of 6873

Mishedlo >>> today Shorted LVLT at $5.38 1.82% of my total portfolio This is a huge pos and most likely a GTZ in my opinion. Including the recent infusion from Buffet and friends of 500 million, that gives then 4.42 in cash 6.5 billion in debt , which is 16.45 per share June02 estimate is -.84 Sep02 estimate is -.85 2002 estimate is -3.10 2003 estimate is -3.15 They have enough cash to last them 4-5 quarters. Then what happens??????? Looking for slow retrace back to mid 3s. Starting very small and will allocate very well as usual. Happy Trading Michail

To: mishedlo who wrote (6541)	7/17/2002 2:48:46 AM
From: TheTruth000	Respond to of 6873

It's not a floorless, unless there was something in the filings that I missed. If Buffett's smart, he's got his position hedged and just collecting the 9%. I agree that LVLT's position is very precarious, and wouldn't be surprised at all to see that they eventually go belly up. Here's a good example of a floorless for the people on the thread: On November 28, 2001, Kana Software, Inc., a Delaware corporation, entered into a share purchase agreement with funds affiliated with Technology Crossover Ventures, or TCV. TCV has committed to purchase a minimum of $38 million of Kana's newly created 8% Series A Convertible Preferred Stock, and may, at its discretion, purchase up to $45 million of the Series A Preferred Stock. Each share of Series A Preferred Stock will initially convert into Common Stock on a 10-for-1 basis. The purchase price of the Series A Preferred Stock will be ten times the lesser of (i) $10.00 per share (subject to adjustment for Kana's pending 1-for-10 reverse stock split) or (ii) 66 2/3% of a volume-based weighted average price for Kana's common stock on the Nasdaq National Market over a 10-day period prior to closing. There will be no change to the conversion ratio subsequent to issuance of the Series A Preferred Stock based upon the trading price of Kana's Common Stock. The Series A Preferred Stock will automatically convert into Common Stock at any time after the first anniversary of the issuance date if (1) the Common Stock has had a daily weighted average price of at least three times the purchase price of the Series A Preferred Stock (on an as-converted basis) for ninety consecutive trading days and (2) there is an effective registration statement in place covering the resale of the Common Stock underlying the Series A Preferred Stock.