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Strategies & Market Trends : Floorless Preferred Stock/Debenture -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (68)	9/2/1998 12:44:00 PM
From: SnowShredder	Respond to of 1438

I don't quite understand what you mean by "draw down" line of credit. When the $12MM is used then the preferred stock is automatically converted to common @ max $ 14 or the average of the last 20 trading days...which ever is less? Thanks a ton...Best of Luck, Where'd He Go?

To: Zeev Hed who wrote (68)	9/4/1998 5:58:00 PM
From: John Liu	Read Replies (1) \| Respond to of 1438

Here is a pretty intereting Floorless Preferred senerio. PPH Pinnacle Health Enterprises . quote.yahoo.com Anyone have any thoughts on the company? john

To: Zeev Hed who wrote (68)	9/16/1998 11:42:00 AM
From: twentyfirstcenturyfox	Read Replies (2) \| Respond to of 1438

Hi Zeev: New one - I'd appreciate your thoughts. ID BOIMEDICAL (NASDAQ-IDBEF) AND (TSE - IDB).See their press release Sept 14 - on Yahoo and other news sites. They issued a class A convert. pref, convertible into common ant any time in the 3 year term with a floating conversion price based on average closing bid prices of the common. Does this meet your definition. Also, the prefs carry a 6% dividend rate. the A's can also require a debenture instead of pref stock prior to the close date of the financing. I'd appreciate any comments. Don.