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Microcap & Penny Stocks : GBFE - GOLDEN BOOKS FAMILY ENTMT INC
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To: RSkarsten who wrote (70)1/5/1999 9:24:00 AM
From: molemania  Read Replies (2) of 476
 
"they have defaulted on a substantial payment to the bondholders and have not made payments to the pref'ds, the missed payments to the bonds is an event of
default on the bank credit facility, not on the pref'ds. People are losing sight that they owe the bondholders over 20 million, and they will not just go away. I am
suggesting we should see a plan filed sometime within the next month or 2, most likely, not definitively, but most likley giving 100% of the comapny to the
creditors. I suggest to u in the interim the stock might rise on internet hype, but watch out for the ultimate announcement."

I hope he doesn't mind me pasting his posts here but I do believe they are helpful to get a handle on the situation.

Dave
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