To: @jim who wrote (10804 ) 5/15/1998 6:42:00 PM From: Robert Graham Read Replies (1) | Respond to
I think everyone should look at the stipulations of the convertable preferred that was issued and associated warrants. I do not want to alarm anyone here, but Infomix recently filed for registration of 22.9 million shares with a high offering price of about $8 to handle the conversions of the preferred stock and warrant holders. The preferred stock holders will be able to convert as of May 18, 1998 of this month for a conversion price of $4 per share. This means that the holders next week can exersize at a profit, and I think this is true even when considering their initial cost. I think their initial cost was $2 per share. But there were multiple blocks of convertable preferred issued, so I do not know the cost of the convertable preffered that can be converted and the shares sold as soon as next week. If my figures are correct, this means that the holders cost is $6 per share, which is where this stock's price will be heading, and the stock temporarily can even go below that number.
