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Biotech / Medical : CMTR-CHEMTRAK FDA OK -- Ignore unavailable to you. Want to Upgrade?

To: Mr. E who wrote (1143)	11/23/1998 8:15:00 PM
From: Ipso facto	Read Replies (1) \| Respond to of 1172

Thanks ... I'll translate that: 'Investor' will convert ConV Prf d at a 25% discount (plus the dividend 6% divided by 360 days x 90days in $ terms) from the price of the common after 90days from the closing. If the price has declined during the 90 day window ( almost a sure bet it has ) - the new price for conversion is 25% from the new common bid price. In other words $1m divided by the price of CMTR = # of CMTR stock to sell ...... A short players wet dream ..... bad news for existing shareholders - very dilutive structure ..... FOR MORE ON THIS STRUCTURE SEARCH CONVERTIBLE DEBENTURES or TOXIC NON DILUTIONARY CONVERTIBLE PREFERRED STOCK