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Microcap & Penny Stocks : IATV - ACTV Interactive Television -- Ignore unavailable to you. Want to Upgrade?

To: Robert Cohen who wrote (1503)	1/18/1998 1:45:00 PM
From: men mailman	Respond to of 4748

RC does not respond to the questions and concerns I put to him, since he has no answers. His interst is only in hyping this DOG WITH FLEAS. In his latest post he attempts to mislead you with conveniently ommitting the parts that have the STING and BITE the shareholders. It is hard for me to show the full scope of his ridiculous post, since I don't have a full copy of the debt placement, (only a portion which I furnish a copy later in the post), but even the piece that I have shows his attempt to hype and mislead you. Do you think that LIBRA who screwed the shareholders in the past (RC admits it in a prior post) have all of a sudden turned arpund and are just trying to give charity to the shareholders. BTW Samuels was once part of LIBRA if my info is correct (I may stand corrected on this piece, However if I am right the whole thing STINKS ROTTEN), RC writes: >>>>" Here is the debt deal. The investor put up 5 million. He has up to 18 months to go 2 ways. A. He can stay with ACTV Entertainment which ACTV the public company owns 100% of and get 17.5% of the cash flow. B. He can convert to common stock in which here is the math 5.5% times let take 20 million fully diluted=1.1 million shares. Now take 1.1 million times a price of 4.5 that equals 4.95. For him over the next 18 months he needs the stock to go to 4.50 to just break even. The dilution if he decides to convert is 1.1 million shares great deal.>>>>> A piece of info on the wire that I found states: >>>>ACTV Entertainment also announced the completion of a $5 million debenture financing. Proceeds will provide funding for the roll-out of its first regional network in Texas. The notes, which were placed by Libra Investments, Inc., are due June 30, 2003, carry interest at an annual rate of 13%, and include warrants to acquire either common stock of the Texas regional network or of ACTV, Inc.'s common stock>>>>>. RC wants to whitewash: a) That the debtholders ALSO have a choice of "common stock of the Texas regional network". The amount unknown to me. b) They can stay with and get 17.5% of the cash flow of ACTV entertainment (the subsiduary, not the parent company) . This is a disastorous clause, since taking off 17.5% of the CASH FLOW of a choking company, not only takes away the BULK of its profit (and probably much more) , but will probably put it in the RED for a long time speeding up its demise. Suppose the company has a cash flow of $5 mil., Libra takes away $1 mil. off the top. c) He fully evades the loansharking of 13% interest d) Doesn't talk about the warrants. e) When the company CHOKES and has to pay LIBRA (plus the usual expenses to the tune of $8 mil. annualy) and CAN"T, how generous will LIBRA be in not pursueing this company into CHAPTER XI, and WIPING out the entire shareholders equity. I don't believe that LIBRA would be so STUPID to take as a "COMPLETE" option with no other strings attached, the conversion to 1.1 mil. shares or as he correctly states a rate of $4.5 per share to get their money back. This basically makes no sense for many obvious reasons, and there is much ommitted to this puzzle, and is only a matter of time to come and HAUNT the shareholders. I hope someone posts the site of the debt offering where everyone can judge fairly, (maybe Libra just went berserk and handed out a free gift to ACTV shareholders after fleecing them all until now, what else am I supposed to believe). I don't mind if RC tells you to ignore me, if ONE decent person gets saved from losing his money in this SEWER then my posts were worthwhile. The ART in investing is not to consider stocks as a SLOT machine.

To: Robert Cohen who wrote (1503)	1/18/1998 2:07:00 PM
From: art slott	Respond to of 4748

Robert, thank you very much. Great deal for Actv. National carrige agreement. That investor really believes as I do in Actv. Your post really made my day. Best regards, Art