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To: Elizabeth Andrews who wrote (1496)11/24/1998 7:55:00 AM
From: Thomas P. Talbot  Read Replies (2) | Respond to of 1706
 
The balance sheet would seem to so indicate. The question is what is the up side if debt is converted and there is continuity versus a reorg. Where is the greater value. Remember I believe dilution is irrelevant in a small capitalization industry when there is "Amazon.com" liquidity. In sum, debt holders might be better off with continuity and as preferred shareholders.