Zeev's Turnips Patch-No Politics (ZEEV)

[Joe Stocks]

>>any interest in ONNN?<<

A short interest. Now only has a 40 mil float but now large holder wants to register to sell another 112 mil shares (sold 13 mil in Feb for 6.98. It appears the remainder is locked up until May) That, and the $260 mil convertible announced tonight(which we don't know the terms of yet)andthis one looks very risky to me. No debt to equity ratio because they have no equity. In 2003 they had $1.07bil in revenues but had to pay out $151 mil in interest payments. I would not be excited about a company that has to pay out 14% of revenues in interest payments alone. According to their 10Q they lost $167 mil last year. A bunch of shuffling of funds going on here. Be careful.