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

To: Anthony@Pacific who wrote (4766)	1/18/1999 1:22:00 AM
From: ViperChick Secret Agent 006.9	Respond to of 122087

If you look real hard you will see the "turd" word used in the article that Tim Cool Hand Luke just posted... IS JAILER BOB GOING TO DELETE THE WHOLE ARTICLE

To: Anthony@Pacific who wrote (4766)	1/18/1999 8:50:00 AM
From: Brooks Jackson	Read Replies (1) \| Respond to of 122087

IMON <<It can if its through a conversion>> I admit I'm an amateur here, but I don't see how conversion of preferred could add more than 3.2 million shares to the 11.5 that were outstanding. That's the maximum number of common shares the company registered on Jan. 11 to cover the possibility of conversion. Also, the actual number converted would have to be considerably less -- the 3.2 million assumed an average 5-day closing price of $1, but the actual 5-day average has been closer to $2 since the registration, meaning preferred holders would get at best fewer than 2 million shares of common. So I'm figuring -- and you pros tell me where I'm wrong here -- that the float is 12 million, plus maybe an additional 1 million shares added and dumped on Friday if the preferred holders were real smart and moved fast. So what would explain a volume of 23 million, divided by half to account for NASDAQ volume inflation? Either (A) the entire company was sold (all insiders bailed), or (B) there was massive churning and daytrader speculation, or (C) BOTH. My bet is C. Prediction: IMON makes a brief, "greater fool" rally for the first hour tomorrow, then tanks when it runs out of buyers.