SVCDQ, temporary board? Message Board

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Microcap & Penny Stocks : SVCDQ, temporary board?

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To: Arthur Tang who wrote (4)	1/23/2000 7:24:00 AM
From: Arthur Tang	Read Replies (1) of 66

Bondholders want liquidation (chapter 7). So, getting out of chapter 11 is priority now. While the assets with the spin off of servicemerchandise.com as a subsidiary, is perhaps more than what SMC owes; SMC is not doing the financial planning to get out of chapter 11, sooner. If spin off is going to make more money then liquidation is out of the question. This all started with the undisclosed financial speculation that the X'mas sales brought in cash to pay off the Citybank loans, sooner. And if the first quarter operation will be money losing, then bondholders have reasons to have liquidation to conserve their holdings. If the first quarter will make money then bondholders have very weak claims for liquidation. Until SMC reports financial conditions or a commitment to spin off servicemerchandise.com, we have no way to know what the bankruptcy court will do.

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