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

To: Bill Jackson who wrote (30913)	3/8/1998 9:38:00 AM
From: Richard Mazzarella	Read Replies (2) \| Respond to of 35569

Bill, questions? We were under the impression that you knew everything.<VBG> Zeev knows damn well that IPM would be dead meat with floorless debentures. He's having fun with the thread IMO.

To: Bill Jackson who wrote (30913)	3/8/1998 9:48:00 AM
From: Zeev Hed	Read Replies (1) \| Respond to of 35569

Bill, if the company's CFO (and CEO) is smart they put in the debenture agreement anti arbitrage clauses, but when the company is with its back to the wall, they may not get it. Once you are in a situation like that it is very difficult to protect yourself. When this was happening to EXSO I offered a strategy on that thread to nail the floorless by proving collusion between them. But sometimes it is a single institution that has the debenture (like in the case of CAFE the Pres of the company itself-no joke) and there is absolutely nothing that the stock holders can do. If a company is starving for cash, it is a good strategy to step away from it if the only available source of new financing is from financial sharks. Zeev Zeev