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To: Paul Senior who wrote (25512)	12/14/2006 10:37:53 PM
From: hivemind	Respond to of 78667

<G> I believe WEB once said, and I paraphrase: "If it's not worth doing at all, it's not worth doing well" <G>

To: Paul Senior who wrote (25512)	12/15/2006 10:42:52 AM
From: Grommit	Respond to of 78667

XAN - thanks paul, another fine bit of research and digging on your part. i just earned a free lunch.

To: Paul Senior who wrote (25512)	12/15/2006 12:54:05 PM
From: MCsweet	Read Replies (1) \| Respond to of 78667

XAN, I would do this little arbitrage, although I was only able to buy 80 shares and didn't feel it worth the commission to buy 19 more shares. I don't that I would post it on the message board. Probably not a big deal, but the more who sign up, the greater the probability the company changes the terms. For example, I was doing this odd lot thing for a tender offer, and the news showed up on Dow Jones. Everybody bought odd lots and the company cancelled the odd lot provision. MC

To: Paul Senior who wrote (25512)	1/5/2007 9:03:49 PM
From: Grantcw	Read Replies (1) \| Respond to of 78667

Looks like XAN approved the reverse split and fractional buyout, but my broker is still showing the full # of shares now in PGSC.PK. Anyone else have a similar experience? -cw

To: Paul Senior who wrote (25512)	1/6/2007 4:45:01 AM
From: Madharry	Respond to of 78667

re: pegasus wireless. Unfortunately, I was indisposed at the time of this posting but when I saw that the market cap was low yet officer compensation seemed relatively high I reviewed the 12/15/ 06 proxy. I can see why this company chose to delist. The company could be a poster child of the type investors should be wary of. The first warning sign though was very easy to spot- 2 separate classes of voting shares. one for management and insiders the others for investors. Then there was the preferred share offering now a liability of $257MM or so. BTW AIG bought a chunk of the preferred and subsequently sued the company and i believe there was a settlement. It seems that that the company stated that it was an exclusive distributor of Direct TV in several areas but didnt mention that Direct TV could terminate the agreement pretty quickly. Oops! After a sharp decline in the stock price mgmt repriced their options in 2005. I expect they might be repricing them again in 2007. I laughed out loud upon reading that one of the reasons the company gave for delisting was that it was unlikely that they could sell more shares to the public anytime soon.