Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: daaan who wrote (1814)	9/16/2000 11:01:34 AM
From: Puck	Read Replies (2) \| Respond to of 1834

I talked to Brent and Jayne extensively during the first year of my investment which included the time during which the floorless convertibles were issued. I believe that they were every bit a naive and gullible as they appeared. When I last talked to Jayne, about a year ago, she admitted to me that they hadn't done their homework about the convert's as thoroughly as they could have. She said that they had hired a lawyer to represent them in negotiating the terms of the debenture contracts and that he didn't think there were a substantive problems in in issuing them. She said that they could have asked him to spend more time and dig deeper in his research. They didn't feel the need, though, because he didn't think anticipate ny of the problems that transpired and they were, as always, constrained in both time and resources. I also believe that if management had attempted to benefit by short selling LifeOne's stock that they wouldn't have bothered to pursue the debenture holders with the RICO suit. Incidently, the trustees assistant only said that LifeOne wasn't involved with the suit anymore but that statement doesn't necessarily imply that the suit isn't still ongoing with other parties or that the suit wasn't settled. I suppose that it could have been settled on amicable terms. I just don't know. She also did say, however, that some creditors (which I interpreted to mean debenture holders) still had claims, as creditors, against the company's assets.