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Technology Stocks : Source Media SRCM -- Ignore unavailable to you. Want to Upgrade?

To: MW who wrote (2185)	2/22/1999 3:52:00 PM
From: Smilodon	Read Replies (1) \| Respond to of 3015

Who is lying MW? Your comment: << Maybe, but according to your previous posts that 50 million of stock should have been worth ZERO to begin with. >> What my previous post actually said: <<Now look at these warrants. SRCM granted United Video 5-year warrants to buy 14,155,356 shares for $14.25. If we look at their value if exercised on the day the deal is announced we get approximately $95 million (($21 - $14.25)) * 14,155,356). With SRCM currently trading at $18 5/8, they would be worth approximately $62 million ((18.625 - $14.25)) * 14,155,356). And finally, I can use publicly traded options as a value proxy. The April 99 calls with a $15 strike price currently sell for 5 5/8. This gives the value of the warrants SRCM granted as $80 million (5.625 * 14,155,356). Adding the value of the stock and warrants, SRCM traded securities with a market value of almost $100 million (($21 * 842,105) + ($5.625 * 14,155,356) for $12 million in cash. >> Or maybe you didn't lie, but instead have a "creative memory." Awaiting your next factually challenged, poorly researched flame, Archer