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

To: Mike Maxton who wrote (263)	2/17/1999 10:10:00 PM
From: BRAVEHEART	Read Replies (2) \| Respond to of 1438

Hi Gang, Here goes. Yes they have been converting at full rate... Series H avg 20 per week of 500 ( 156 { 31 % } outstanding as of Dec 31 ) Series I at 7.5 per week of 200 ( 86 { 43% }outstanding as of Dec 31 ) ie allowed to convert 25% if pass a prior convert. Hence convert 10% at lowest point. Actual SEC amounts: SERIES H cumulative convertible preferred stock, $1.00 par Value. Authorized 500 shares; issued and outstanding 156 and 500 shares at December 31, 1998 and June 30, 1998, respectively. $1,682,389 ( 3 month amt ) $5,146,851 ( total orig amt ) SERIES I cumulative convertible preferred stock, $1.00 par Value. Authorized 500 shares; issued and outstanding 86 and 200 shares at December 31, 1998 and June 30, 1998, respectively ******$912,462 ( 3 month figure ) $2,039,014 ( total amount ) Series H remaining 78 @ two day low of 21/32 x 82% = 1.5 mil. Series H remaining 78 @ two day low of 4/8 X 82% = 1.9 mil. Series I remaining 43 @ two day low of 21/32 X 82% = .7 mil. Series I remaining 43 @ two day low of 4/8 X 82% = .97 mil. Total increase in shares outstanding from the December figure will amount to approximately. FIVE MILLION SHARES Hence as of Dec the 31 there were 57.1 million shares outstanding Thus, we will have approximately 62.1 million shares outstanding. Assuming this is our final two day low. I am banking on it. THE TRUTH IS OUT THERE LONE WOLF