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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: rainman who wrote (237)	12/6/1998 10:40:00 AM
From: Dale Baker	Read Replies (1) \| Respond to of 122087

Yep, one way or another unless TCTV either convinces the preferred holders not to convert - which could happen since the holder happens to be the CEO as I understand it - or comes up with the cash to pay off the notes instead of using stock. Basically you can escape the deal with the devil if I you come up with the bucks to buy back your soul. But that's not what the preferred holders normally have in mind since most of their profit vanishes in a straight buyback. This is the first time I have a seen a convertible preferred deal from within a company. It will be interesting to watch.