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.

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

To: Alex Greenland who wrote (1282)	1/23/1998 6:27:00 AM
From: Ploni	Respond to of 18691

Alex, That is indeed a confusing mess. I haven't had breakfast yet, so I'm not conscious enough to decipher it. (Of course, I don't know if breakfast would help, in this case.) When a company pulls a common stock offering, and instead offers convertible securities in a confusing offshore transaction, I would classify this as "a bad thing" for the common shareholders. However, I note that HYBN is trading at $2/share, and in the U.S., I believe only market makers can initiate new short positions on stocks that are below 5. So this may be of more interest to investors in Canada, who I believe can short without such price limitations.

To: Alex Greenland who wrote (1282)	1/23/1998 8:15:00 AM
From: Roger A. Babb	Respond to of 18691

Alex, the HYBN announcement is confusing. I didn't dig into it because I don't short OTC stocks.

To: Alex Greenland who wrote (1282)	1/23/1998 10:28:00 AM
From: phbolton	Respond to of 18691

Alex: I was involved in the prior HYBN secondary (did part of the due diligence) and it was a straight forward no funny business offering. Will check on this one.

To: Alex Greenland who wrote (1282)	1/23/1998 4:07:00 PM
From: chester lee	Respond to of 18691

Alex, Damn confusing, and probably by intention. Anyhow, some of it is a discounted convertible of 20%. However, the stock is at 2-1/16. Don't waste your time doing any Due DIligence, as this one is not shortable. <<The Conversion Preferred Stock, if issued, and Warrants are convertible into, and exercisable for, Common Stock at a conversion or exercise price equal to the lowest of (i) 80% of the average closing bid price of the Company's Common Stock for the 30 consecutive trading days immediately preceding any closing in the Offering or (ii) 80% of the average closing bid price of the Company's Common Stock for the five consecutive trading days immediately preceding any closing in the Offering; provided, however, that if on the termination date of the Offering the Company has not received at least $20,000,000 in net proceeds from the Offering or the holders of less than $40,000,000 principal amount of the 9% Notes accept the proposed Exchange Offer, investors will be entitled to receive additional warrants to purchase, at an exercise price of $0.001 per share, a number of shares of Common Stock equal to 100% of the Common Stock underlying the Conversion Preferred Stock underlying the Offering Notes purchased by such investors, in which case the Offering Notes will not be convertible into equity securities. >> Chester