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Microcap & Penny Stocks : IELSF-Flight to Fortune Or? -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (445)	10/29/1998 8:34:00 AM
From: hcm1943	Read Replies (1) \| Respond to of 520

Zeev, you are correct, floorless converts are legal although they IMO should not be, it is the method used in selling the underyiing stock that is in question. Shorting stock on downticks, shorting when you have not been able to borrow the security in advance are illegal actions and I assure you not only has it been done to IEL but many other companies whose board is STUPID enough to use this financing method. I have heard that this financing method is illegal in some countries, but then the SEC is to busy policing the internet in their efforts to proctect people from themselves and to gain publicity for the "great" job they are doing. As for Swissair, I whole story is not out yet and the problems with IEL started long before the report came out. Also IMO swissair is being overly cautious as inflight entertainment systems have beenin use for years. I'd bet that when all the facts are known the systems will be turned back on