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Technology Stocks : Broadband Wireless Access [WCII, NXLK, WCOM, satellite..] -- Ignore unavailable to you. Want to Upgrade?

To: GVTucker who wrote (1736)	3/30/2001 1:14:02 AM
From: Bernard Levy	Read Replies (1) \| Respond to of 1860

A question regarding ART's capital structure: is it correct that Qwest and Oak hold convertible bonds, but not the common? If so, the next step is rather obvious. The business plan is all right, the common holders get wiped out, the debt gets converted in stock (hopefully 100% of the debt), and either existing debt holders or a few new ones contribute some more $, and the company has a pretty good shot at being successful. In other words, a prepackaged BK (similar to what happened to MDS operators like CAWS) is the more likely occurrence, instead of an asset sale like with GST or NPNT. In fact for those who remember, buyers of the new CAWS stock after restructuring made off like bandits when WCOM bought the company. In other words, a debt-free ART could be an interesting investment.