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Gold/Mining/Energy : CMYN -- Ignore unavailable to you. Want to Upgrade?

To: T.Bill who wrote (526)	4/1/1998 11:22:00 AM
From: Triffin	Read Replies (1) \| Respond to of 811

If you are long a convertible security that is convertible thru DTC (depository trust corp) at the option of the holder of the convertible security..there is no short sale in the normal sense..ie your brokerage firm doesn't go to the street for a "borrow" of long shares..it is an offset trade..you must exercise the conversion feature on the convert as you sell common shares "short exempt" ie u sell it into the ground as being done here...I saw this years ago with the old Savin corporation..they had two issues of convertible prf. with a sliding scale conversion ratio; same result. If we were smart we should find out who else Cappello & Laffer have financed in a similar way.

To: T.Bill who wrote (526)	4/1/1998 12:53:00 PM
From: T.Bill	Respond to of 811

One more question for any takers: What is going on in the minds of the convertable preferred holders who rejected the deal (as well as those who didn't). Are they holding out for a better deal in the days or weeks to come? Are they holding out so they can day trade and manipulate for more profits over the coming days and weeks? Are they trying to bankrupt the company and get their piece of the assets potentially worth less at that point than their initial investment? Or what??? T.Bill.my.shrink./brainstartingtohurt