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Biotech / Medical : Techniclone (TCLN) -- Ignore unavailable to you. Want to Upgrade?

To: shero who wrote (1058)	1/13/1998 11:05:00 AM
From: Jerry Davis	Read Replies (1) \| Respond to of 3702

Shero and Davis I went back to the 10q and reviewed the S-3 done in August. This was a $12,000,000. placement with the following conversions. Nov 26, 97 through Jan 26, 98. 13% discount Jan 26, 98 through Mar 26, 98. 20% discount Mar 26, 98 through May 26, 98. 22.5% discount May 26, 98 through Jul 26, 98 25% discount Jul 26, 98 27% discount The discount is figured on the average LOWEST TRADING PRICE of the stock 5 days before each conversion date. What if the want to drive the stock down for the conversion price next week? Lets do some calulations Average lowest stock price for 5 days before Jan 26 is $1.00 $1.00 x .80 (conversion)= .80 a share conversion $12,000,000. divided by .80 a share = 15,000,000. NEW SHARES. Our company has I believe with/out options 27,669,614 shares outstanding. Plus there are warrants exercisable at 110% of the convesion cap. I do not know if this is 1,500,000 or 16,500,000 addtional shares? Just some thoughts on what might be going on. Jerry Davis