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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Instock who wrote (956)	1/19/1998 9:35:00 AM
From: vegetarian	Respond to of 18691

Re: HCOM convertible. They can short it even if they can't convert it because they can just hold the short until they can convert, the only risk being if the shares they shorted get called back by the broker. Also, if you carefully read their words they are mixing two issues here. Based on this press release alone it seems that they also issued 5% conevrtible debentures in October and they have to register the shares that would be needed for these convertible debentures. Their clause states that the investors of floorless convertible (issued in December) will not convert more than half until 30 days after they register the shares for the October convertibles (whose date I don't know), the registration of additional shares for floorless convertibles is latest Jan 31, so the other shares may already have been registered. I could be wring though.

To: Instock who wrote (956)	1/19/1998 11:26:00 PM
From: CJ Quantumwell	Respond to of 18691

Instock, Read from the news release you provided. I translate that the investors may be able to convert at maxmimum 1/2 of the preferred stocks NOW!!!! CJ <<Further, the investors have agreed that they will not convert more than one-half of the preferred stock until 30 days after the effective date of a registration statement covering the resale of shares of common stock issuable upon conversion of the Company's 5% convertible debentures which were placed in October.>>