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Strategies & Market Trends : Pancho Villa's Short Analysis File -- Ignore unavailable to you. Want to Upgrade?

To: xcr600 who wrote (159)	12/8/1998 10:29:00 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 287

Do you know for sure if the company bought the conv back? Hey, to make it clear, it was more a proposal what they could to to prevent further dilution. I did not say that that has been done. According to the latest Quarterly report there are still some outstanding (i.e. in hands of buyers and not given back to company) Ok here it is, look: >>>>>> The Company has the right to call the Class A Convertible Preferred Stock at any time after June 30, 1998 if the price of the Company's Common Stock is at least 200% of the effective conversion price for ten consecutive trading days, subject to certain other conditions. The Company cannot call more than one-third of the original aggregate Class A Convertible Preferred Stock in any six-month period. The Company also has the right to call the warrants in certain circumstances. In connection with the private placement, the Company also granted a four year warrant to purchase 380,953 shares of Common Stock at a price of $2.625 per share to Delphi Financial Corporation, the Company's agent in the private placement. During the period from July 1, 1998 through October 31, 1998, certain holders of warrants issued in May 1998 exercised their warrants to purchase an aggregate of 556,660 shares and paid the Company gross proceeds of $1,807,435. The Company believes that the transactions were exempt pursuant to Section 4(2) of the Securities Act of 1933 and Rule 506 under Regulation D. During the period from July 1, 1998 through October 31, 1998, holders of 1,182,384 shares of the Company's Class A Preferred Stock converted their Preferred Stock into 5,911,920 shares of Common Stock and holders of warrants issued in May 1998 exercised their warrants for an aggregate of 556,660 shares and paid the Company gross proceeds of $1,807,435. <<<<< So, if they want - they can do something. I did not say that something has been done already or? So you see youe Delphi mentioned here. www2.edgar-online.com hey a real bummer! I can't believe what I read: "Investing in Navarre common stock is very risky. You should be able to bear a complete loss of your investment. In addition to the other information in this Prospectus, you should consider, among other things, the following risk factors carefully in deciding whether to invest in Navarre's common stock...." www2.edgar-online.com C.

To: xcr600 who wrote (159)	12/11/1998 4:29:00 AM
From: RockyBalboa	Read Replies (2) \| Respond to of 287

NAVR selling shareholders converted & sold more than 2.5 Million stocks these few days into the hype. We will see in the next 10-Q. These shares yielded more than 20 Million net of placement & loan costs. And still no netradio in sight. XCR, they did it again what they did in July but bigger size this time. I turn away in disgust. When I just'd found shares to short earlier. More and more I believe thas all is a bunch of bandits, ripping off normal guys either way... I am short SDTI (contains VRSN) & VRIO now. Think about Ziff Davis (ZD) short, ZDs awkward high debt & no revenues shoulda spell serious trouble. Had trouble to find VRSN shares to short, so I reverted my SDTI where I am 4 ahead. C.