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To: PeterR1700 who wrote (121)1/12/1999 11:36:00 AM
From: Mikmonroe  Read Replies (1) | Respond to of 369
 
Good breakthrough, just hope it closes at $5 or above. With a good earnings release they should get above $6, and then a financing will not be as dilutive.

A financing is necessary to fund them to the next level.

Expect they will do a preferred convertible, with a discount of 10%-15% of the market at the close, maybe with a 5% coupon.

Just hope they don't do a death spiral preferred with no floor. If they do, get out quick.