Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: makin_dough99 who wrote (32046)	4/22/1999 1:15:00 PM
From: Joe Copia	Read Replies (3) \| Respond to of 122088

ss LOCK @ $2. Joe PTG&LI !!!

To: makin_dough99 who wrote (32046)	4/22/1999 1:18:00 PM
From: Dale Baker	Respond to of 122088

Yes, it's technically a 25% discount. These deals are customarily referred to by the % of the price which the convertible holders will pay. "Shares of the Reg-D Series A Convertible Redeemable Preferred Stock are convertible at the option of its holder, at any time after issuance, into shares of Class A common stock at the initial conversion rate defined as number of shares of Class A Common Stock equal to $1,000 divided by the lower of (a) $5.00 (b) 75% of the average market price of the Common for the period of 10 days immediately prior to the conversion date. No less than 25 shares may be converted at any one time unless the holder then holds less than 25 shares and converts all at the same time. There exists a conversion price ceiling of $5.00 per share and a conversion price floor of $3.00 per share."