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

To: RockyBalboa who wrote (408)	5/14/1999 2:54:00 PM
From: Anaxagoras	Read Replies (1) \| Respond to of 1438

<<What if this stock trades in the 5s to 10s once? Then, the upgrades will come out. >> I doubt it; it will still be too piddling small for coverage, unfortunately. <<Doesn't the news imply that some part of the convertible is still out and can be converted, diluting the equity a bit? >> Yes, that's the way I read it as well, however it's not very much when you compare it to their cash on hand- however, if you compare it to their MC, it's huge. Interesting that they were able to redeem at only a 5% premium- I believe that that's unusually generous to the company for these kinds of deals. If the company resolves the listing question either by remaining NMS, or even going to Small Cap, I expect that there should be a nice pop. BTW, if anyone is interested in the science and finances of the company they did a presentation a few months ago at an Individual Investors Conference that's archived over on V-call, complete with slide presentation. Anaxagoras