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Biotech / Medical : ATIS is on the move! -- Ignore unavailable to you. Want to Upgrade?

To: Hoa Nguyen who wrote (1709)	12/14/1998 10:34:00 PM
From: Grashopper	Read Replies (1) \| Respond to of 2205

SO why did it go up on heavy volume today???

To: Hoa Nguyen who wrote (1709)	12/16/1998 11:10:00 PM
From: WWS	Respond to of 2205

It appears that ATIS is now going to "ask" (actually, "force" would be more exact) existing shareholders to "pay the piper" for the 500 floorless convertible preferred shares issued in July (see the 8K dated July 16). I expect the existing shares outstanding (40 mm) to be diluted by company's issuance of new shares to cover the floorless conversion, probably 2 new shares for each existing one. Why else would the company want the shareholders to increase authorized shares from 100 mm to 125 mm? So, the value of existing shares will fall by at least 2/3, all for the sake of the measly $25 mm that ATIS got from Prometheus back in July. P.S. I'm not presently long or short ATIS. Message 5184603