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To: Henrik who wrote (30611)	7/23/2002 7:14:43 AM
From: Dale Baker	Read Replies (2) \| Respond to of 118717

OK, assume the merger is called off. PGO still owns Atlantis and runs a business with fairly steady revenues over $200m per quarter and positive cash flow, even after they pay their interest. They end up with a year to peddle Atlantis and settle their bank debt. I don't know how their long-term debt is structured, but it's unlikely to be a crunch in the next twelve months. Am I missing something? I don't see that PGO fails if they end up on their own - but maybe I have overlooked part of the puzzle.