I don't understand why the company's financial situation
deteriorated "as a result" of entering Chapter 11....
sec.gov
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PART IV (CONTINUED)
The Company filed for protection under Chapter 11 of the United States Bankruptcy Code
on February 26, 1999. As a result, its financial condition has
deteriorated compared to the quarter ended March 31, 1999. A
comparison of the operating results for the two quarters is as
follows:
March 31, 1998 March 31, 1999
-------------- --------------
<S> <C> <C>
Revenues $101,117,000 $ 65,381,000
Operating Income (Loss) $ 8,471,000 $(56,196,000)
Net Income (Loss) $ (1,620,000) $(89,406,000)
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