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Non-Tech : LVEN:NASDAQ--Las Vegas Entertainment Inc.
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To: Janice Shell who wrote (68)10/14/1999 6:54:00 PM
From: Q.  Read Replies (2) of 228
 
re. <<The guarantees are enforceable under the laws of the United States of America, are freely assignable without notification and without conditions, and that the instruments are backed by clean US funds clear of any criminal origin>>

I've struggled to figure this out, and I just can't come up with anything. I'm beginning to wonder if it is a bunch of gibberish that really doesn't mean much at all.

The last of the three phrases is especially confusing. It is a kind of dangling grammatical monstrosity that has no obvious relation to the first two phrases.

What exactly is meant by "US funds"?

Who is it that "backs" them?

Which items are supposedly "clear of criminal origin"? Do they mean the US funds, the guarantees, or something else?

What would qualify as a criminal origin, anyway? Would something possessed by a convicted felon, for example, be considered to have a criminal origin?

Finally, does it say anywhere that these "guarantees" are registered with the Securities Exchange Commission? If these securities are freely tradeable in the U.S., as suggested by the wording "freely assignable", then they should be registered. But if they aren't registered, then there is a greater risk that they are fraudulent.
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