Sharky:

At the moment the SP is firmly in the control of the arbritrageurs who are long the debentures and short the common. The debentures at the moment provide a ceiling for the SP of the Common. In my opinion, the upward pressure will continue to increase. This will ultimately result in sudden and massive short covering preceded by a rapid sell off of a manipulated common for maximization of return on their shorts. The "informed" investors will then allow the common SP to increase and at the appropriate price, exercize their conversion privilige on the debentures, thus consolidating their control of the SP and the Company. Bottom line. Once this process begins it will happen very quickly. Having a stop loss on ones shares will likely be disastrous and will result in losing ones shares. The institutional investors and their clients will be the beneficiaries. And the private investors with a very high tolerance level for extreme volatility and nerves of steel! Go ahead and accuse me of cosnpiracy thery but, examination of the trading history of Connnacher lends credence to this scenario.

Brian

Brian