Cityscape Financial (CTYS) Message Board

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Non-Tech : Cityscape Financial (CTYS)

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To: Wayne Umfleet who wrote (1531)	11/5/1997 8:29:00 PM
From: Shane Stump	Read Replies (1) of 2544

>> * From your post #1501 "I think CTYS will be filing Chapter 11 if its earnings are negative." For gods sake, one quarter of negative earnings does not automatically lead to bankruptcy. Bankruptcy would be caused by Cityscape's inability to pay its creditors and other obligations. Because of all the recent events, and precipitous stock price drop, Cityscape's ability to access funds from the financial markets has been thrown into question. Access to money is what MAY lead to bankruptcy, not 1 quarter of negative earnings, especially if it is due to one-time events. << If earnings are bad and the stock falls further, bankrupcy is a REAL possibility because CTYS may NOT be ABLE to raise funds (anyone want some more convertible debts??!!)! Shane

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