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Strategies & Market Trends : CAVALRY'S SHORT BUSTERS - MAGIC EIGHTBALLS PICKS -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Stress who wrote (25)	9/7/1998 11:18:00 PM
From: Cavalry	Read Replies (1) \| Respond to of 1637

dave i am up to speed now, big problem first, is this a floorless debenture they issued. Able has already resorted to issuing a $20 million bottomless convertible with 1,000,000 stock warrants to fund the NT down payment. the way they financed the nt purchase bordered on illegal and they are defaulting on senior notes payments, at the same time they are signing big name deals left and right. bell south is good one, so is brazil deal. the old ceo left himself vulnerable to asenio and they went in for kill, old ceo gone new mgmt. with great deals in place. key is did they dig such a hole with debt that they cant dig out. need to know if the bottomless convertible is floorless debenture if yes pass unless we see the start of short covering, sorry they need time to renegotiate a package refinancing deal to get their debt payments down, imo cav