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Microcap & Penny Stocks : ABTX - Agribiotech -- Ignore unavailable to you. Want to Upgrade?

To: drakes353 who wrote (8078)	7/1/1999 3:28:00 PM
From: The Ox	Respond to of 8359

This company's forward looking statements are getting to be a big joke, IMO. Every six months they come out and state that the forward looking statement made six months ago was wrong....oops.... We were sure we were going to make a profit but I guess we just don't know are business well enough. Maybe next year we can make some money. How much you wanna bet that next year they will make a similar statement. Wait 'til next year. Yeah right. I don't know why but I expected more from these guys. WRONG again.

To: drakes353 who wrote (8078)	7/1/1999 3:58:00 PM
From: Osothebear_517	Read Replies (1) \| Respond to of 8359

Hechinger's "news" has been out for three weeks. There is a maximum exposure of 2.3 M. Accounting for same is to be covered by bad debt allowance. As far as loss to bottom line, this problem is relatively minimal since margins would be low on a customer of this size. The debt was unsecured so ABTX will participate in proportional distribution (if any) with myriad other unsecured creditors. Obviously, the end result in this matter is months away. It should be noted that Hechinger's filing is a Chapter 11 and not a liquidation bankruptcy. A workout of some type must be anticipated since the stores are continuing to operate in a debtor in possession status. It is certainly nothing to be greatly alarmed about however I am sure that you find this story to be titillating. OSO