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Microcap & Penny Stocks : RECEPTAGEN---RCEPF
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To: Lance who wrote (114)12/24/1996 8:46:00 AM
From: topwright   of 267
 
Lance, Because the timetable for the present financing package has lapsed. I think the Dr. Dennis Fowler deal is out the window. I am told that at the meeting they spoke of a new deal, from a legitimate financing source (banking community) that had to do with covertible preferred debentures as collateral. Since there were no details, it is difficult to evaluate the feasability of this new arrangement. From what I have gathered it spreads the debt out over a long period of time, and cleans up all accounts payable and gives them operating cash now.

Off the cuff, it sounds like a prescription of what is needed. But until details about such a plan is revealed, all we can do is hope that something is worked out soon.

Will keep you posted as I find out more.

RB
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