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

To: Jerry Davis who wrote (1144)	1/23/1998 2:29:00 PM
From: EZLibra	Respond to of 3702

Thanks, Jerry, I was on the phone with Rudy getting the same thing. I was wrong, JB, they can convert whatever amount they want but can only sell 10% of the day's trading or 10% of 5 days' average or a maximum 50,000. The S-3 has 14 participants of which 3 have holdings of over a million and two own 618,818. These are the ones to watch, the others being relatively small players. The 20% discount applies beginning Monday. If they convert a million shares (to cover a short) next week then it has cost them 25% to drive the stock to $1.25. That is not sustainable. The R4 also is in effect Tuesday, meaning naked shorts will be called in.