Play-by-Play Toys and Novelties (pbyp) Message Board

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Non-Tech : Play-by-Play Toys and Novelties (pbyp)

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To: rogermci® who wrote (115)	10/15/1999 2:13:00 PM
From: Dako	Read Replies (1) of 132

Oct. 15th is the date that Play-by-Play's senior credit facility was extended to after its July 31 expiration. My take is that there will be no announcement about it until PBP either gets that facility renegotiated with the current lender or gets a new facility to replace it. Otherwise, this stays in limbo, unless Chase, the current lender takes some aggressive action, which would be very bad news for the shareholder. In any of these events, the $15 million in subordinated debt is essentially due and payable, and its hard to see how this doesn't present another huge problem for the company, or at least the shareholder. All in all, the audit, unless postponed, is due by October 31. This is the true deadline here that we can be sure of, and should tell us a lot on both the financing and operational fronts that we don't presently know. Why anyone capable of getting his socks and shoes on in the right order each morning would own this is beyond me. Only short-covering and the continuing upward move in KIDE (of no real meaning to Play-by-Play, of course) could possibly account for it.

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