Broadband Wireless Access [WCII, NXLK, WCOM, satellite..] Message Board

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Technology Stocks : Broadband Wireless Access [WCII, NXLK, WCOM, satellite..]

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To: transmission who wrote (1776)	5/15/2001 9:34:23 AM
From: Ken Muller	Read Replies (1) of 1860

Transmission: =>Delaware has issued a final order approving the terms of its debtor-in-possession ("DIP") bank facility, which has an initial availability of up to $75 million, and which may be increased to as much as $300 million upon the satisfaction of certain conditions.<= More smoke and mirrors from the company that invented positive spin. The $75 million was previously approved by the court. (WCII is already spending that money.) The additional $225 million DIP aprroval was denied. Unless there is a suitor willing to pay an attractive price for the assets lock, stock and barrel, the spending binge is over. I believe it would be sweet justice (as a condition for the DIP approval) for the court to force Rouhana to come up with a year end audited report. Catch-22.

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