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Technology Stocks : GX Investors Thread

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To: A.L. Reagan who wrote (331)	9/28/2001 8:08:16 AM
From: KJ. Moy	Read Replies (2) of 586

EXDS has to submit a re-org plan outlining the steps which would take them to a point where they can become a sovereign company again. The plan probably includes only paying a portion of the debt to creditors. So, it has to be approved by them. In the mean time, EXDS obtained a 200M Deptor in possession (DIP) loan from GE capital to continue running the business. All bills, as I understand it, after the filing, will be paid out of this 200M or the operating revenue (Last quarter was about 300m). Bills prior to the filing, again as I understand it, are on hold pending on the hearing. So, payment to leases and network charge should be made from this point on IMO until the decision for re-org is final. EXDS can't arbitrary pick and choose which lease to keep or get rid of without approval of their deptors. EXDS said they continue to run their business un-interupted and even signing up new business as usual. How successful they are is a different story. PS: today is the last of the 3rd quarter. Hopefully whoever wants to get rid of GX from their book will be done early today. I saw from level II relentless large block selling this whole week.

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