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Microcap & Penny Stocks : TEVE - TelVue
TEVE 0.04000.0%Jan 26 4:00 PM EST
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To: makin_dough99 who wrote (17)4/5/1998 9:23:00 AM
From: Sheri   of 195
 
Here are a couple more snippets from the 10-K re: the loan and Mr. Lenfest.

It looks like now that the company is making money they are repaying the debt with cash:

The Company remains dependent upon the deferral of principal and
interest payments due to Mr. Lenfest to fund operations and capital
expenditures from operating cash flow. Mr. Lenfest has agreed not to
demand the cash repayment of principal or accrued interest on the
outstanding loans through January 1, 1999. Nevertheless, management
intends to continue to repay the outstanding principal amount of loans made by Mr. Lenfest from cash not needed for operations. Management believes that the Company will have sufficient funds to continue such repayments and will be able to fund its core business from operating cash flow through December 31, 1998.

Also, Mr Lenfest has other businesses.

H. F. Lenfest has been a director of the Company since 1989. He is
the President, CEO and a director of Lenfest Communications, Inc. and each of its subsidiaries (the "Lenfest Group"). The Lenfest Group of companies are engaged in operating cable television systems, providing cable advertising and programming. Mr. Lenfest's principal occupation since 1974 has been President and CEO of Lenfest Communications, Inc. and The Lenfest Group of companies.
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