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Message: Shephard - Phantom Media

i am long time investor and have alarge position in this stock.I think one of the reason the drop in share price last couple of days is related to FORM 4 news that ROBERT PUTNAM converted his$50,000 position of convertible notes into 625,000 common shares in 12/1/2006 at conversion price of 8 cents a share.Do

you think this action is indicative of more dilution or overall is a good news. Thanks for your responce

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