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Technology Stocks : Osicom(FIBR) -- Ignore unavailable to you. Want to Upgrade?

To: Scott Ozer who wrote (6793)	5/15/1998 8:39:00 PM
From: craig crawford	Read Replies (1) \| Respond to of 10479

Do you guys have trouble understanding english? It seems like pretty plain english to me. No one person can exceed 4.99%, they are not saying that the total convertible can't exceed 4.99%. As long as it's split up between enough people, it is FLOORLESS and you guys are CLUELESS!

To: Scott Ozer who wrote (6793)	5/15/1998 8:39:00 PM
From: CH	Respond to of 10479

The maximum number might not be 1.2 million, if Par issued up to all 50 million he is authorized to do so, the max will become 2.5 million share and each share still worth $3.2, still pretty good. The worse case would be if they did not need to convert all but they can own max 4.9%, then we cannot project what is the share price. Convert and sell...can that happen? Would Par be so stupid to swallon such a pill. Let David help us to understand the meaning behind the terms CH

To: Scott Ozer who wrote (6793)	5/15/1998 9:33:00 PM
From: Brian	Read Replies (2) \| Respond to of 10479

Scott: <<In no event shall a conversion result in a holder owning, or deemed to beneficially own, more than 4.99% of the then issued and outstanding common stock of Osicom>> I would understand beneficially own to be the % of shares in your control (in your name and in names of companies that you own), I don't see anything that says you can't sell shares and convert more. It really look's like a bottomless convertible debenture to me! Of course John H. Gorman stated "This funding will be used in the roll out of our new products," I would guess that he means they have multiple Gigamux orders, rather than roll out of or not use new products. (curious wording). If they announce multiple Gigamux orders and a surprise in earnings this quarter, the bottomless debentures will be a non event. If they continue business as usual, then (and I really hate to say this) Craig might be right after all. We will all know in a few week's... Brian