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Non-Tech : Boston Market (BOSTQ) -- Ignore unavailable to you. Want to Upgrade?

To: CoffeePot who wrote (1456)	10/6/1998 3:11:00 AM
From: paul goldstein	Read Replies (1) \| Respond to of 1567

STEVE, to try to answer some of the questions.. i can't see anyone buying this stock after the filing..so, it should trade at fifty cents to nothing.. but, it was about fifty cents monday. tuesday we should see it go lower, unless some one sees somthing .. now the only lining..and i am not sure it will be rational..just figuring..maybe some folks see a value of fifty cents times , about 70 million shares are worth , say 20% of the company. suppose the bond holders get the remaining 80% or, 560 million shares.. now that makes 630 million shares toatal. reverse split it for simplicity ..and we see 63 million new shares. so that makes 63 million shares with the common at stock selling for five bucks..now we go back and see the numbers. that makes the company worth about 300 million bucks.they owed about 900 million, give or take 100 million,, so they wipe off about 900 million in debt, have a value of 300 million. means someone ate 600 million in loses. now, stock holder would have a fifty cent stock selling for five bucks at one for ten the bond holders would lose their 900 million in bonds for 560 million shares converted to 56 million shares in the reverse split. will bond holders accept shares for stock.i think they would. remember, i am out here so i have no idea of the major bond holders thinking as to what they could get.. but, it would clean off the debt, create a clean company going foward would it be good? any idea seems good of course bond holders lose their money and interest for the stock..but, it seems a good deal in these cirumstances. so the question was, i almost forgot.. why fifty cents for the stock.. at fifty cents the aove is an idea if we go to ten cents tuesay, it means scarch this idea off the books. but, i so think..most of the debt was bonds. the filing menas closing crapy stores, geting out of leases, cutting debt from 64 million in interest payments to zero

To: CoffeePot who wrote (1456)	10/6/1998 3:26:00 AM
From: paul goldstein	Respond to of 1567

last thoughts this evening. the seq questioned their past reporting so they were not able to do a deal for the bonds or sell the bagel investment, or sell property they owned. that left them with a baloon bond payment due in octobe, i believe was the time frame. this way, management gets to submit a plan of reorganization to the courts.. usually, the court agrees with management .the key is to get the key bondhlders to agree with the deal. so both sides have leverage. the company to perserve some value for the stockholders the bondholders to get the major share. now usually it bitter as they have bones to fight over. but, just my opinion and its worth only what its worth as expression on the board, not to inply buying or selling, just conversation... the company will wind up with the stores, the bagel operation, their real estate, and no debt..what is that worth?? i have no idea. the catch is, the 900 million debt has to be converted to shares , even if worth , say 30 cents on the dollar in stock, to make it work. i think the bond holders would be happy with this sort of a deal. also, i think mangement watns that 10 perecnt of the new company for the stockholders to perseve a sense of something. remember, the common stock holder lost heavy the bond holder lost heavy the only winners will be if they were to be players from here going foward assuming someone bought the stock or bonds at these levels. but again, we have to go back and see if any other big bucks are owed that have to be added into the equation. LAST THOUGHT, i am not recommending buying or selling i own the bonds and do not own the stock i wll lose, but if i get converted to stock from my bonds i will just become a stockholder..of course the bonds are worth a lot less. in fact, i have to go look up and see if they are selling for anything. like the common stockholder the bond holders have to see what the big players have in mind to do about bost