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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies
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To: hoffy who wrote (85895)7/21/1999 11:23:00 PM
From: Smart_Money  Read Replies (1) of 119973
 
DIP financing. That was the loan was called. Very safe loan for the financial insti. The bad thing is it pushes all valid claims back, even the bond holders. That technically makes the common shares less value. LWN needed the money but to say the loan means the company will be out of bankruptcy is far fetched. LWN has so many claims it could very well be next July before out of bankruptcy. IMO, invest somewhere else.
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