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

To: Bill Jackson who wrote (29319)	12/17/1997 4:13:00 PM
From: Larry Brubaker	Read Replies (1) \| Respond to of 35569

Bill: According to the details of IPM's financing as stated in the PR, it looks pretty legit to me. The reason why some Reg. S can be so nasty to existing shareholders is if it is sold at a big discount to the current price, or worse yet, if there is a variable conversion price. If there is a big discount, the holders of the Reg. S can short the stock against the shares they hold at lower prices, thus locking in an immediate profit. If the conversion is variable, they Reg. S holders can short to drive the price down to ridiculous levels, and then cover with their shares. Since IPM's financing was announced to be at a fixed $1.25, which was not a big discount to the share price at the time, it doesn't appear to be too bad of a deal, unless there is something they are not telling us.