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Technology Stocks : PSIX up 26.5%, Takeover(?) -- Ignore unavailable to you. Want to Upgrade?

To: Curtis Gruber who wrote (5593)	3/13/2001 9:41:24 AM
From: Souze	Respond to of 5650

The SEC gives companies only 90 days following the end of their fiscal year to file their results. So, yes, PSINet better get with it.

To: Curtis Gruber who wrote (5593)	3/13/2001 9:47:16 AM
From: Curtis Gruber	Respond to of 5650

"PSINet said Tuesday that despite the anticipated sale of the transaction-solutions unit and other efforts, it likely will need to restructure or renegotiate some of its obligations to third parties. The company said that if it doesn't resolve certain of these obligations it could default on its debt securities. PSINet added, however, that the proceeds from the anticipated sale of the transaction-solutions unit will increase its flexibility as it evaluates its financial and strategic options." public.wsj.com I take this to mean that company is basically still looking for a partner or buyer and the added cash reserves gives them slightly firmer footing in the negotiating process. PSINet trading down $.28...wow, normally a quarter ain't no thing, but when you're trading at a buck, that hurts. cg