ASK: "THE LAST DON" OF MOMENTUM TRADES Message Board

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Microcap & Penny Stocks : ASK: "THE LAST DON" OF MOMENTUM TRADES

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To: spy hard who wrote (10821)	3/31/1999 12:55:00 PM
From: lightfoot	Read Replies (1) of 15987

I hope WIRL makes you money, but I wouldn't hold it for news! This paragraph says what will happen to the common stock shareholders, and what happens to the bondholders. I can't see any reason why MCI would want to change this and pick up the debt! Can you? <The Bondholders Agreement contemplates that the Company will file and seek approval of a plan of reorganization under which the holders of the Senior Notes would receive 96 percent of the outstanding common stock of the reorganized company in exchange for cancellation of the Senior Notes. Existing stockholders of the Company would receive, in exchange for the cancellation of the existing common stock of the Company, 4 percent of the common stock of the reorganized Company, together with warrants to purchase 10 percent of the new common stock on a fully diluted basis.> biz.yahoo.com

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