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Strategies & Market Trends : Shorting stocks: Broken stocks - Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Mama Bear who wrote (1116)	6/5/1998 9:38:00 PM
From: drakes353	Respond to of 2506

Barb: Might want to check your AOL e-mail. Should be a coupla notes from John in there about IVIP. It's a great minds thing. FWIW, decided to cover my SWSHE short. Still think this one could...go...all...the...way but my broker was threatening to call in my shares and I didn't want to have to try to get out in a hurry so that was that. 64% in 2 1/2 months. Too bad they all can't be like that. Still short PAMCE and EQMDE. I'll call 'em both next week to see what's up with their filings. NMFS (sister company to EQMDE) filed their proxy today, might be a few giggles in there. Started the week 30% net long, finish it 75% long and will probably get try to get to 100% net long next week. Techland seems washed out. Time to put on me buyin' shoes. drakes353

To: Mama Bear who wrote (1116)	6/6/1998 10:22:00 AM
From: Dale Baker	Read Replies (1) \| Respond to of 2506

Congratulations, a repeat discount convertible company. The terms of this one aren't very clear, but they can short the stock in advance. John, could you plow through this and compare it to other discount convertible deals? sec.gov

To: Mama Bear who wrote (1116)	6/6/1998 1:31:00 PM
From: Doug Shapiro	Read Replies (1) \| Respond to of 2506

A gem indeed. The S-1 suggests that the lawsuit(which is under appeal) brought by Randall awarded $450,000. This would essentially bankrupt the company as they are short on cash but this is no problem as I see the company just registered to sell 2 mil shares but then I read that the company receives none of the money. It goes to selling shareholders. They also had this sale of preferred stock for $5 million in April but I don't see this amount entered under cash in the assets. So where is the $5 million from the sale of pref. stock and who in their right mind would buy this unless it has them protected against losses? The conversion of the pref. stock is at $9.73 until July when it can be converted at a small discount to the market. Is this what you call a floorless convertible? They can always sell on the way down for a small discount to the market price? They are owed money from AHN American Health Network? So I need to check them out to see if they are going to pay up. If they can then that would give IVIP breathing room. Thanks for mining this gem. Doug