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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: Yellow Jacket who wrote (6013)	10/12/1998 10:17:00 AM
From: Joe Copia	Read Replies (2) \| Respond to of 119973

yes it is cheap but...... WOODLAND HILLS, Calif., Oct 12 (Reuters) - PacificAmerica Money Center Inc. said Monday that insurance holding company Fremont General Corp. had ended merger talks because of the decline in the securities markets, especially in the subprime lending industry. The real estate lending company, however, said it would still explore a sale of the company and selling or refinancing of all or a portion of its interest-only strips receivables. It said it might also opt to raise additional capital at the parent or subsidiary level. The company noted that turmoil in the subprime lending industry would make it difficult to known whether it could act on any of these ideas. It also said trouble in the subprime industry increased its risk of financing loans and existing interest-only strips receivables, and pricing secondary loan sales.