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Technology Stocks : C-Phone (CFON) -- Ignore unavailable to you. Want to Upgrade?

To: posjim who wrote (1171)	3/17/1999 7:07:00 PM
From: Brooks Jackson	Read Replies (1) \| Respond to of 1201

More death-spiral news: freeedgar.com CFON is planning to raise $5m by dumping 1.5 million shares on the market. The deal -- as I read it -- allows outfits called Sovereign Partners and Cardinal Capital to buy the stock at a 15% discount, then immediately dump it onto the market, or (more likely) use the stock to cover a short sale made just before. It's a guaranteed 15% profit for Sovereign if they do it right, and guaranteed to dilute the value of stock held by current longs and push this sorry POS down even further, IMO.