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Gold/Mining/Energy : Solv Ex (SOLVD)
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To: kimberley who wrote (5217)12/21/1997 12:52:00 AM
From: WTMHouston  Read Replies (1) of 6735
 
Kim:

I know that you asked for assistance, but for anyone here to explain the history or the current situation would either take forever or would get a war started. My advise, if you want to get a pretty good idea of what has and is going on -- from both perspectives -- is to go back and read the 300 or so posts from before the trading halt and the last 200 or so posts from today. While there will be a lot of extraneous "stuff," it should give you enough information to figure out for yourself what has and is happening. I know that is a lot of posts but there is a lot of history.

The very short (and incomplete) version of the current situation is that Koch has agreed to buy around 78% of SOLVQ assets (not stock) for $30MM and has agreed to give SOLVQ $750K in debtor in possession financing. SOLVQ is still in bankruptcy and to my knowledge has not proposed a formal reorganization plan -- although one is expected. There are still many contingencies and many unanswered questions -- whether this and more is good or bad will depend on your evaluation of all the info and not this very short version. From reading the posts, you will figure out quickly who thinks what. Do you own DD which should include reading a lot of the posts here.

Troy
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