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Biotech / Medical : CoCensys -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (175)	6/2/1999 9:54:00 AM
From: Anaxagoras	Read Replies (1) \| Respond to of 190

<<Would be interesting to know who the buyers are and how the remainder of the convertible is traded.>> Definitely. Remember that there are restrictions on conversion for the next couple months, but the most important one at the moment isn't in effect, so conversions likely are proceeding in a controlled fashion: <<As part of the repurchase agreements, the holders agreed not to convert additional shares of Series E Preferred Stock prior to July 29, 1999; however, the holders are entitled to convert if certain conditions apply, including the following: (i) CoCensys' common stock is trading above $1.00 per share or at least 120% of the then-applicable conversion price for the Series E Preferred Stock...>> BTW, the annual shareholder meeting is next week on the 9th, I believe. You also may want to take a look at the discussion on John G's Low Price/Cash Ratio Stocks' thread. I wanted to hear John's comments on this so I posted here: Message 9666252 A contributor pointed out that the common shareholders' equity is negative once you take account of the preferred- I haven't gotten a chance yet to respond. I'm not sure of the importance of it. Anaxagoras