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Microcap & Penny Stocks : EXSO -- Consolidated Eco-Systems (Exsorbet Industries)
EXSO 0.00010000.0%Mar 7 3:00 PM EST
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To: Bosco who wrote (4627)4/28/1998 4:39:00 PM
From: Zeev Hed  Read Replies (1) of 5015
 
Bosco, I would say the final chapter of EXSO is being written:

'The timing of this
litigation is unfortunate. The cost associated with this litigation combined with litigation from certain holders of guaranteed
7-7 debt threatens our turnaround efforts.'' Connors continued, ''ConEco gave guarantees to certain creditors of 7-7 in late
1996 which, with the collapse of 7-7, remain outstanding and in default. Some of those creditors have brought suit against
ConEco. While we don't believe that the claim of any single 7-7 creditor is extremely harmful to the Company, the
cumulative effect is potentially unfavorable.''

As if they did not have enough debt holders going after them. I was worried that the holders of 7-7 debt do have recourse to EXSO. Too bad management has decided to tell the stockholders about it now.

I look back at EXSO in few months to see if anything is salvageable. But frankly, I would doubt there is a spark of survival there. Too much red ink, too many "divisions" closing or non operational, and that probably inhibits those groups that were eeking a living from getting additional work.

Last time I tried to make an argument that maybe at $.05 it is worth looking at, while it has not reached that level yet, I am withdrawing even looking at EXSO at $.05. They may not even have $5 MM in annual sales by the time all the debt holders will have parted with their respective "pound of flesh".

Zeev
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