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

To: Crossy who wrote (261)	2/16/1999 9:01:00 PM
From: BRAVEHEART	Respond to of 1438

Hi Crossy, Actually I believe Viragen's current convertibles will end by the end of March. It was 15% every 20 trading days starting mid Aug. The most recent downtick was the one before a final down tick in 10 to 15 trading days. The put options cannot occur until voter approval for new shares. This cannot occur until a shareholder approval for anything in excess of 1.9 million shares. The current amount set aside for such activities. PS: A very important aspect of buying at the bottom of conversions is to determine if the company can "show you the money". In other words make sure the company has a decent cash position. This is very helpful in anticipating the outcome of a floorless. If the company does not have sufficient cash be certain that the operation is undervalued with significant potential. I believe Viragen is the latter. Hence I expect a pop in the end. Best Wishes LONE WOLF