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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Sergio H who wrote (8556)11/29/1997 7:57:00 PM
From: Dick Jaffe  Read Replies (3) | Respond to of 79352
 
Hi Sergio. I think what he meant was to go long the preferred and short the common until the relationship between them stabilized. A classic arbitrage situation. Appears to be a no brainer.

Dick



To: Sergio H who wrote (8556)11/29/1997 8:36:00 PM
From: Cary C  Respond to of 79352
 
Sergio, F.Y.I. in regards to the dividend on the preferred. I believe it was taken from the S-8 filing I believe.

The Company will be obligated to pay dividends at the rate of $0.115
or 2% per share of Series B Preferred Stock in respect of the two year
period prior to its conversion. Such dividends may be paid in cash or
shares of Common Stock, at the Company's option....

Cary



To: Sergio H who wrote (8556)11/29/1997 9:40:00 PM
From: LGC  Respond to of 79352
 
Sergio, Yes, Dick Jaffe's post is exactly what we were discussing, and the concern is that until the prices get right there "could" be downward price pressure on the common, not the preferred.

Correct me, but I thought the prospectus indicated a dividend on the preferred, might be mistaken of course.

Thanks for your posts,
Louis


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