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To: go4it who wrote (1286)	7/24/1998 4:03:00 PM
From: Zeev Hed	Read Replies (1) of 1539

Charles, I am reading with interest the creation of this "stockholders" movement. I am not sure if you people are at all interested in the other side of the issue. What it seems you are trying to do is to raise a million bucks (assuming that about 50% of holders go for the deal) and hope to take this out of bankruptcy. One thing I believe should be checked is the ability of a company in CH 11 to issue shares in a public offering (that is what this is about). They can issue shares in a PP and even issue warrants to buy shares later, but the actual buying must be part of a Judge decision on "reorganization". After all, a CH 11 is holding the debt holders at bay until a plan for reorganization is authorized by the bankruptcy court. Zeev

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