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To: Lord Smooth who wrote (1778)3/9/1998 3:02:00 PM
From: Lord Smooth  Respond to of 14347
 
One more thing to clarify. 18 million shares are not being dumped on the market. These shares, and potential new shares from Series B, are being registered so that the holders may trade them at their convenience. This is not an offering. Just a registration statement. Since there aren't any series B issued, the 10.7 million common shares representing the 800,000 shares of Series B don't even exist yet. I admit it is confusing. The key word here is "register" not "sell." Of course after they register it will be easier to sell.



To: Lord Smooth who wrote (1778)3/9/1998 4:58:00 PM
From: Andrew H  Read Replies (2) | Respond to of 14347
 
Schop, I believe the company is under no obligation to sell 600K of the Series B preferred. If that is the case, I hope they will not, since the shares would bring them more on the open market 9AT CURRENT PRICES AT LEAST) than they would receive in the Series B, unless I am mistaken.


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