GST Telecom (GSTX) 4th quarter earning Message Board

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Technology Stocks : GST Telecom (GSTX) 4th quarter earning

GSTX 0.000300

0.0%

Oct 30 2:51 PM EST

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To: Rob Preuss who wrote (358)	7/11/2000 3:00:49 PM
From: Bernard Levy	Read Replies (5) of 369

Hi Rob: Current stockholders are virtually certain to be wiped out in a reorganization. What killed GST was its $1.2B in debt. When the company talks about reemerging from Chapter 11, here is what it is hoping for: a) Wipe out stockholders. b) Find enough financing to pay vendors. c) Get bondholders to exchange say 66% of their current bonds for stock in the reorganized company. The result would be a company with only $400M or so in debt and a much better chance of making it. Looks at the former CAWS for a blueprint of this type of reorganization. Best regards, Bernard Levy

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