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Gold/Mining/Energy : International Precious Metals (IPMCF) -- Ignore unavailable to you. Want to Upgrade?

To: kimberley who wrote (26461)	11/15/1997 3:11:00 PM
From: Bob Markley	Read Replies (2) \| Respond to of 35569

<< I have to disagree with your take on the financing... it's really too premature to say it's positive or negative. If you can get the details, I wish you'd make them public so we can all make our own decisions on it. Perhaps it is favorable, but until more details, the jury is still out, at least for me. >> Agreed, we need to find out the terms of the PP, ... several thoughts come to mind: - What is the holding period, if any, that it cannot be converted? - When does the conversion priviledge expire? - Who are the Institutions? On the surface this appears to be very favorable financing due to the fact that the conversion is at a premium and not a discount. There is no incentive to sell stock short and drive down the price to cover. The premium at 25% is a 'cheap' premium,... IMO. I think we can also safely assume this was placed with 'friendly' institutions. The conversion priviledge is engineered to allow the creditor to partake in the future success of the company on a equity basis, ... thus the PP is in strong long term hands. Take care, Bob