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Microcap & Penny Stocks : INTERNATIONAL FIBERCOM, INC. (nasdaq - IFCI)
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To: Amigo Mike who wrote (832)4/24/1997 12:57:00 AM
From: michael d kugler   of 2486
 
Mike,

If I remember correctly, the loans to Zerbib and Kealy were part of a deal called Wings LTD to build a hotel...which never happened. Check the history to see the forgiveness of loans upon the acquisition.

The fact that their loans are secured by company stock is immaterial. Why don't they just pay them off? Because no one else will loan out money at these ridiculous rates indefinitely.

It's not that big of a deal, except when the company is giving away the shareholders' farm for a lousy 100 grand.
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