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.

Biotech / Medical : PLC Systems -- Ignore unavailable to you. Want to Upgrade?

To: Oblivious who wrote (810)	4/29/1998 10:27:00 PM
From: John F. Dowd	Read Replies (1) \| Respond to of 1202

Dear David: Burnthru over at Yahoo (attended panel meeting) informed the forum that the convert price on the SBS $10 mill. loan was based on the average daily price of the last 5 days + 25%. If that is so then the it is as I suspected a weak deal in the short term vis-a -vis current shareholders. It actually benefitted the shorts as the obvious ploy by SBS trading dept. would be to short the stock so the 25% conversion would get swallowed up by the decrease in the stock price. This thing stinks. Worse I cannot get anyone at my local SBS office where I have an account to advise as to the particulars on this debenture. Underlying this whole manipulation is the fact that the big boys want in at low price with a money back guaranty sort of having your cake and eating it too. When is this thing callable, convertible, due? This financing is what has been the culprit all week. I am glad someone has something positive to say on the media but I am really upsset as about this loan and the lack of info that abounds. Still way long, JF Dowd