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

To: RockyBalboa who wrote (1577)	8/2/1998 11:40:00 AM
From: coaster	Respond to of 2506

I've been thumbing thru the Barron's small caps section and have some preliminary stocks with short potentail, no fundies check as yet, if anybody is interested;BURTF,ATEC,ARGX,ETEL ARGX seems like an easier read and looks weak ETEL in the updraft of internet stocks looks like the momentum is stalling time for some recreation g'day-Kel

To: RockyBalboa who wrote (1577)	8/2/1998 3:16:00 PM
From: RockyBalboa	Respond to of 2506

Display length restricted to only one page - see msg #1577 The original msg i keyed in was much longer - important parts were cut away in the page view. Hint: If you start with submit response you can read the remaining page of it. In short: It deals about the recent (upward) price action and the last S-3 filed at 20 Jul 1998 registering 3.769.000 shares for sale. Christian

To: RockyBalboa who wrote (1577)	8/2/1998 3:59:00 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 2506

I N C L ude it in the next stinky stocks issue. INCL - Recent Workout Again I have read thru the conversion paragraph and asked a legal guy about "the avg of the 2 lowest sale prices in 12 days", along with certain timing issues. I have to correct myself in the estimation whether a stock sale already has been done or not. It has to some extent, namely 1,5 Mio. Note that: The cleric meant: Yes, it may by any price in a given and recent 12-day period just before the conversion. The 12 trading days lookback period are on a rolling basis and no specific lockback limitation applies. Especially the lookback may include a period of trading, regardless a conversion is possible or "economically useful" or not. Furthermore, sale price may apply to intraday prices as well to closing prices or "last sale prices". (I replied, whatever time of day, price can be knocked anytime, also the last sale). Economically this means that: In connection with the first rather floorless conversion opportunity, which is as of 21 J U L Y 1 9 9 8, according to the filing, the initial lookback period applies anyway. In the specific case this means that the lookback period prevailed from 2 July to 20 July 1998. The price action was: lowest price 2 1/16 as of 2 July and 2 3/8 as of 6 July and 2 7/16 as of 7 July and finally 2 1/2 as of 9 and 10 July. After that selling was over and the stock went to 4+ as of 21 July 1998. Consequently, 1,5 Mio of common have been printed from converting preferred in July as the price was below 4 for at least 10 trade days and lender is restricted to that amount within o n e m o n t h. 1,5 Mio of common converted at $2,21875 as of 21.Jul represent roughly $3,328 Mill of the preferred so atleast $4,2 Mio of the preferred (plus accrued interest) are outstanding and subject to converse. So the 2nd phase has to work out soon, which is possible in the next calendar month, as early as 3 Aug or late at 21 Aug, depending on the interpretation of the month term. It tends to be merely the distant term so conversion may apply as at 21 Aug 1998. We could see the low spike action in front of it. Look out! Christian