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To: Dale Baker who wrote (31027)	9/11/2002 9:30:41 AM
From: soar	Read Replies (1) \| Respond to of 118717

DALE, great pick with the NXTL bonds.....Your TWTC bonds also look promicing....Thanks for the news update about the TWTC ceo purchase...i bought the shares last week & will add more....Still holding ET & have to think that their mortgage business is very healthy...Also holding PVAT & ORBT although nervous about ORBT'S earnings...Significant insider buying at VTSS...Do you like it longer term? Appreciate your contributions & enjoyed & agree with your recent comments about trading.

To: Dale Baker who wrote (31027)	9/12/2002 1:46:21 AM
From: Londo	Read Replies (1) \| Respond to of 118717

Hi Dale.. your NXTL post about the bonds reminds me of ALGX - their 11.875% issue (CUISP 01747TAC6) will pay their first coupon in August 2003 (cash accrual will start February 15, 2003). Obviously in their case their ability to pay is severely compromised by the fact that they're cash flow negative, and don't have a lot of it left ($310M and dropping), but considering they're trading at 15 cents on the dollar, a $10,000 investment in their bonds will pay a semi-annual coupon of $3958.29 cash. Not bad if you think they'll actually be solvent for that long, although the chances of realizing the principal is rather remote. Still, the risk-reward seems rather tantalizing if you think management has any chance of being afloat by 2004.