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SPIN

07/15/07 6:54 PM

#8409 RE: PaperProphet #8405

if you are suggesting that funds don't short ahead of PIPEs, including convertibles, you may benefit from visiting this site:

http://www.sec.gov/litigation/litreleases.shtml

and if shorting was not an issue with this sort of financing, why even have the promise to not short the stock, and then declare as much in a PR? there is plenty of documentation out there of funds shorting ahead of a conversion and then "covering" the sale with shares subsequently delivered to them by the issuer. for example, google "Jeffrey Thorp."