XO Communications (XOXO) Message Board

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Technology Stocks : XO Communications (XOXO)

XOXO 34.99

0.0%

Dec 21 4:00 PM EST

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To: Ronald P. Margraf Sr. who wrote (963)	12/16/2001 11:37:05 PM
From: Sunny Jim	Read Replies (1) of 1018

The fact that it is going to trade doesn't give me any comfort. Say the price goes to $.10 per share and Fortsmann says, well, we need to issue us and Telmex 4 billion shares each for our $400 million investment, and then we need to issue a couple of billion shares to the preferred shareholders. What does that make your common stock worth? well it just about wipes it out, just like they said it would. Gotta keep cheering for the lawyers to pile on. Since XO said that they had $1 billion cash, and in the summer they were saying that they were funded well into 2002, I would sue them based on the situation not being such a distress sale situation. It appears that Fortsmann is trying to create an opportunity to take the company cheap, and they ought to be hung out to dry for that. After all they have a fiduciary responsibility to the common shareholders to look out for our financial interest, not to financially rape us. If the company were going bankrupt, I would prefer that we get stiffed by the bankruptcy court, not Fortsmann Little. In effect what they are trying to do is declare bankruptcy without going through the court system.

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