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To: Lola who wrote (13960)	11/9/1999 2:02:00 PM
From: DonH	Read Replies (2) \| Respond to of 36688

Totally O/T, perhaps appropriate, maybe even humourous... theonion.com with apologies, ...Don

To: Lola who wrote (13960)	11/9/1999 2:03:00 PM
From: SwampDogg	Respond to of 36688

HAR...Yes, the news really is that bad...PHNPI <<The company is not comfortable with its existing debt to equity ratio and will be seeking alternative funds to improve this position. To accomplish this goal the company will: sell excess and redundant assets, applying the proceeds against outstanding debt; renegotiate its existing long-term credit facility; seek the conversion of the convertible debenture; limit its capital asset expenditure and acquisition programs, so that available cash flow can be applied against outstanding debt; consider the issuance of additional common shares of the company, the proceeds of which are to be used to repay existing debt; and assess the likelihood of merger opportunities.>>