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Microcap & Penny Stocks : GBFE - GOLDEN BOOKS FAMILY ENTMT INC -- Ignore unavailable to you. Want to Upgrade?

To: fatheroz who wrote (459)	8/27/1999 5:35:00 PM
From: Sethpop	Respond to of 476

When a company is going through reorganization the actual confirmation of the plan through the court can frequently be delayed months and months for a variety of reasons. In this case there was a shareholders' suit related to alleged mis-statements by the company about its prospects a while back...and they filed an objection to the reorganization plan which has now had a settlement that has been tentatively agreed to...This accounted for the most recent delay. Having been in Bankruptcy court for weeks on end for a variety of situations, depending on the judge, almost any "objection" can delay the process. At the end of the day, however, none of this will make any difference to the current GBFE shareholders who will get next to ZERO for their stock as computed in prior notes. The settlement of the prior shareholders' suits will be moneys that will go to people who owned the stock at specific intervals of time well before now and thus will not add any value to the current stock!!

To: fatheroz who wrote (459)	9/1/1999 6:15:00 PM
From: Sethpop	Read Replies (1) \| Respond to of 476

PLAN CONFIRMED!!! Company will probably have a news release tomorrow with details. Normally the plan becomes effective within 10 or so days after confirmation...so in all likelihood the last day for trading the stock will be around September 10-13 (watch the fun now!!) My personal OPINION is that anyone who likes the properties of Golden Books should wait a short while until there is sufficient information about the "new" Golden Books stock so that they can make an informed investment decision. It is also my observation that within the first few months after "new" stocks begin trading (where those stocks have been issued to former trade creditors and/or debenture holders) there is quite a bit of selling on the part of the creditors who wish to have their money and couldn't care less about the investment merits of the company....so frequently this represents a good buying opportunity if that is your ultimate decision. Well....the music stops about September 10...should be fun to watch the trading between now and then as everyone scrambles to find a chair.