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

To: Anaxagoras who wrote (407)	5/14/1999 12:05:00 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 1438

When the market is that irrational for a very short time, why not make use of it? What if this stock trades in the 5s to 10s once? Then, the upgrades will come out. Well I don't expect that much but it can go up. Intesting that it is so easy to buy on the bid. Doesn't the news imply that some part of the convertible is still out and can be converted, diluting the equity a bit? "Based on the shares repurchased to date, as of May 7, 1999, $3.44 million of Series E Preferred Stock remain outstanding; if CoCensys is able to repurchase the additional $1.59 million, $1.86 million of Series E Preferred Stock will remain outstanding at that time." IS.com What happened to IRID(F)?