Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Henley Health Care (HENL) -- Ignore unavailable to you. Want to Upgrade?

To: Dick Jaffe who wrote (57)	11/25/1997 10:02:00 AM
From: michael c. dodge	Respond to of 89

I do not agree that this is a world class company. What is disturbing indeed, is that for a largely illusory agreement to allow increase in the (superior lien position) Comerica debt (from $10mm to $12mm), Henley has granted Maxxim an increase in Maxxim-debt conversion ability to acquire Henley at a reduced price (price reduced from $3.00 per share, to $2.00 per share, increasing the cheap Maxxim position from 43%, to 53% of Henley). This is an obvious and material detriment to the public shareholders....a position no public shareholder should voluntarily enter. To quote Warren Buffet: "People who have behaved badly in the past, will behave badly in the future."