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Technology Stocks : Audio and Radio on the Internet- NAVR -- Ignore unavailable to you. Want to Upgrade?

To: simarx who wrote (264)	7/21/1998 11:47:00 PM
From: iceburg	Read Replies (1) \| Respond to of 27722

Here is something else that is very interesting that I unearthed from the 8-K describing the preferred share agreement: The Company has the right to call the Class A Convertible Preferred Stock at any time after June 30, 1998 if the price of the Company's Common Stock is at least 200% of the effective conversion price for ten consecutive trading days, subject to certain other conditions. 200% of 2 5/8 is 5 1/4. Should NAVR remain above that level for 10 trading days they could call 1/3 of the preferred shares ;-) Furthermore, should the preferred shareholders excersize all their warrants, NAVR would receive an influx of $26M in cash. Additionally, a good Netradio IPO could generate a ton more money, and perhaps a healthy dividend for NAVR.