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To: Jibacoa who wrote (9531)	8/27/2001 7:39:10 PM
From: Sergio H	Read Replies (2) \| Respond to of 13094

<The $100 million they gave to MTNT is supposedly secured in part by a radio station and if the merger goes as planned they are supposed to get a preferred stock at a cost of 0.1 of MTNT share which will be convertible into 6.4 shares of MTNT. > Bernard, correct me if I am mistaken. My understanding is that only the holders of the preferred RRRR shares get an an interest in XMSR. The preferred shares are 100% owned by insiders (The Apollo Group). Regular RRRR shareholders get MTNT shares. In essence, the insiders traded RRRR for an interest in XMSR and gave their shareholders an interest in MTNT. Furthermore, the completion of the deal has some conditions that are favorable to MTNT not to mention cash to retire debt. Sergio