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

To: Richard Mazzarella who wrote (26528)	11/15/1997 7:52:00 PM
From: Larry Brubaker	Read Replies (1) \| Respond to of 35569

"<<Did AKSEF and EXSO convert at a premium?>> The math made it so." Richard: I thought with AKSEF, the purchasers converted at a DISCOUNT to the then current share price, not a PREMIUM. I think this is a very important point, because if you can convert at a discount, you can immediately take a profit by shorting the stock, and then using the converted shares to cover. I'm not sure it would work the same way if the purchasers have to convert at a premium. The only way I could see an advantage in shorting, if the purchasers have to convert at a premium, is that they could get more shares when they do convert. Still doesn't guarantee a profit, like converting at a discount does. Maybe I am missing something. Could you explain the math a little better for those of us who are mathematically challenged?