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Strategies & Market Trends : Floorless Preferred Stock/Debenture -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (256)	2/11/1999 8:17:00 AM
From: BRAVEHEART	Respond to of 1438

ARIA registers shares to cover the conversion of the floorless convertible. sec.gov LONE WOLF

To: Zeev Hed who wrote (256)	2/11/1999 9:03:00 AM
From: yosi s	Respond to of 1438

Zeev thanks for the post. You very eloquently described what I thought was going on with one of my investment.

To: Zeev Hed who wrote (256)	2/14/1999 7:50:00 PM
From: Crossy	Read Replies (1) \| Respond to of 1438

Zeev, weeks back (last week of December) I found out that NTPL (NEtplex) , an IT-consulting company forged some interesting partnerships with key building-block manufacturers with a "must" appeal for web-scenario cases. For instance they are now a practice to Packeteer, IMHO one of the best ready solutions for web server based load balancing. Well, back then the stock was at $1. In fact it traded around $1 for a number of months. Now it's at $2.80. Company not an OTC but a Nasdaq stock. Profits not too far away but Price to Sales ratio still low at 0,35. My only concern: they financed an acquisition in September with a floorless of $1,5 million. 1 year 9% dividend for the preferred, then 15% - so they got an incentive to pay back very soon I think <G>. Also conversion period starts after 5 years or under "change of control" of the company. Warrant for "upside" protection were also issued. I do like this company but I don't welcome a floorless in the boat. OTOH they can pay back at face value (without a penalty) and the fact that dividends will increase from 9% to 15% after the 1st year puts another incentive to pay back this floorless very quick to the company. Also the preferred cannot convert now - but only in five years from now. What do you think about this on NTPL ?? Also I would like to know what you think about a possible an end-game play. BRAVEHART thinks that VRGN last floorless is now finished (conversion finished). Is this the prerequesite for the end-game spike(s) ?? best regards CROSSY VRGN.

To: Zeev Hed who wrote (256)	2/17/1999 7:15:00 PM
From: Mike Maxton	Read Replies (1) \| Respond to of 1438

Zeev, Thrustmaster (TMSR)released an 8k yesterday (2/16), describing new financing. They have sold $4 million worth of shares, with options for $12 million more. There is a trigger mechanism that will result in the financiers receiving more stock at 25 day intervals, twice. There is an "agreement" that the financiers will not short the stock until after the 2nd reset mechanism. I don't hink it's floorless, per se, but haven't had time to digest the whole package as of yet. Thought you might be interested. mike maxton