Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: Anthony@Pacific who wrote (45927)	10/29/1999 11:01:00 AM
From: Dako	Read Replies (2) of 122087

You may want to revisit PBYP. The $60 million financing figure they floated in their PR is highly inflated. Based on current eligible working capital, they barely have breathing room above the Chase line that was replaced. And they essentially threatened BK to get the convert holders to accept the sweetener. Annual interest costs around $5 million will squeeze hard on their shrinking operating income, and competitive pressures in their key amusement park segment are growing. PBYP will miss today's deadline for the 10-K. When it is out, will be ugly, and so will at least the next two quarters. Nothing good coming within any long speculators' time horizon. Stock is holding up on short covering by those who were hoping for BK. When that is done, stock is headed to 2 or less.

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