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Microcap & Penny Stocks : LifeOne, Inc. (LONE) -- Ignore unavailable to you. Want to Upgrade?

To: IBMikey who wrote (1803)	6/26/2000 9:31:00 AM
From: Puck	Respond to of 1834

I don't think so. Just one more failure, in the innumerable list, to achieve a goal management set out to reach. The holding company still exists as well as the RICO lawsuit. I don't see why management can't still attempt to pursue their reverse merger strategy--the three subsidiary shells are still there. I'd like to know why the reverse merger with Communicata failed. but I really doubt that the trustee will be willing to comment on that matter. As I recall from reading the 8-K announcing the accord in principle, Communicata was permitted only one ground for withdrawing unilaterally, which was if their management concluded that LONE wasn't proceeding to complete the deal in a timely fashion. I know that Mr. Goldstein probably acts as trustee for a number of companies and his time is therefore divided. I can't help but wonder if the time constraints faced by the trustee might have delayed progress. This is just idle conjecture on my part and I don't really expect ever to know. I'd also like to know why it took over a month from the time the trustee received communication from Communicata that it was withdrawing from the deal before an 8-K was filed. (Check the date on the letter from Communicata referenced in the 8-K.) The shareprice dropped over this time from close to ten cents to around three now. Obviously someone knew but we shareholders were the last ones to find out. As always with this company, hopes for progress in creating shareholder value reside tantalizingly out of reach in the future.