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Biotech / Medical : Xenova (XNVA)

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To: billgates5043 who wrote (143)	8/5/2005 3:21:56 PM
From: Robohogs	Read Replies (1) of 173

Wrong wrong wrong. There is nothing that says how they are going to capitalize company going forward. It could be all debt for all you know and then no one loses ahead of these notes. If everyone took the notes, then you end up with no equity in structure except cash they put in for development on top of the debt they have already put in. They have no commitment to put in more equity or for the fund to pay the debt. Read the docs. Jon

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