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Technology Stocks : Ampex Corporation (AEXCA) -- Ignore unavailable to you. Want to Upgrade?

To: Hal Campbell who wrote (6493)	3/24/1999 7:55:00 PM
From: Hal Campbell	Respond to of 17679

LOL...sorry for my babble and confusion. This subset of finance is not my native language ....more kinds of stock than varieties of GM autos. My last post was misleading. Just trying to get it straight in my own mind. Two relevant passages. <<Each share of Convertible Preferred Stock may be converted, at the option of the holder thereof, into 500 shares of Class A Stock, at a conversion price of $4.00 per share, subject to adjustment under certain circumstances. >> and <<In February 1999, holders of 5,630 shares of Convertible Preferred Stock converted their shares into a total of 2,815,000 shares of Class A Stock.>> The arithmetic is exact. 500 X 5,630 = 2,815,00. So the holders chose to convert...not the company. The price was over 4 when they did ...and that definitely does explain the " falling brick wall" that Steve mentioned that the price ran into. I believe about 15 million shares were traded in the first 3 weeks of February. Those who wished to sell have probably sold already ...but whenever the price kicks above 4 again ? More conversions are possible. So lets hope future developments , as Steve also said, warrant volume and enthusiasm that renders any conversions mostly irrelevant. For my part , i continue to think that still very probable.