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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Tummus1 who wrote (5317)	5/27/1998 8:12:00 PM
From: Ditchdigger	Read Replies (1) \| Respond to of 29382

Twest,this is by far the most confusing convertible perferred document I have ever attempted to read. Perhaps Sergio would like to tackle this one. Here is the conversion details "The Conversion Price as of any date after March 23, 1998 will be the lowest trading price of the Common Stock during the 22 consecutive trading days immediately preceding the date of conversion reduced by the Applicable Percentage described below. The "Applicable Percentage", which is dependent upon the time elapsed after the date of issuance to the date of measurement, will be 5.000% starting on the first day of the fourth month and will increase in the subsequent 14 months to 6.125%, 7.250%, 8.375%, 9.500%, 10.625%, 11.750%, 12.875%, 14.000%, 15.125%, 16.250%, 17.375%, 18.500%, 19.750% and 21.000%, respectively. At any date after the first day of the eighteenth month after the date of issuance, the Conversion Price will be the lesser of (i) 79% of the average of the daily low trading prices of the Common Stock for the eighteenth month, (ii) 79% of the average of the daily low trading prices of the Common Stock for the twenty-fourth month, and (iii) 79% of the average of the daily low trade prices of the Common Stock for the thirtieth month (the "Conversion Cap"). The Conversion Price is at all times also subject to customary anti-dilution adjustment for events such as stock splits, stock dividends, reorganizations and certain mergers affecting the Common Stock." Sorry,I don't have the concentration to figure all this out..DD www4.edgar-online.com

To: Tummus1 who wrote (5317)	5/29/1998 5:21:00 PM
From: LTK007	Read Replies (1) \| Respond to of 29382

Twest if you check out the ORVX on SI and Yahoo! you will see that thanks to BioMan the CPs and the effect on price action I feel has been explained--"flipping shares" is at play.BTW,I am holding ORVX as a very very long speculation--or until I change my mind:)max90