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

To: JustInTime who wrote (32438)	12/22/1998 2:27:00 PM
From: Panita	Read Replies (3) \| Respond to of 119973

Has IMAL been mentioned on CNBC? I have been out for few hours. Thanks

To: JustInTime who wrote (32438)	12/22/1998 2:29:00 PM
From: Susan Saline	Respond to of 119973

uh uh take a look at what BOST did when they filed chapeter 11 bostQ in the next few days it went from 1/2 to 1.25 course it did go back down .... it trades , regardless of chapter 11 or not ... but sme is down because of a no-payment on time for a loan ... from what I read I have 3 accounts long trade and speculative this is in "spec" account this is the news that caused the tumble ... no mention of chap 11 Wednesday December 16, 5:19 pm Eastern Time US CORP BOND-Service Merchandise tumbles,mkt tense NEW YORK, Dec 16 (Reuters) - Bonds of Service Merchandise Inc. (NYSE:SME - news) plunged 50 percent on Wednesday, while lingering concerns over Presidential impeachment and tensions over Iraq kept trading in the broader secondary market sedate, traders said. ''There's a lot of apprehension out there with Presidential impeachment and Gulf tensions looming over the market,'' said one high-yield trader. ''On top of that we're heading towards ear-end...by Friday, if not Monday, things should come to a grinding halt.'' The House of Representatives was due to vote on Thursday or Friday on whether or not to impeach Clinton, but House leaders discussed contingency plans for delaying that, should military action move ahead. Meanwhile, Pentagon officials told Reuters any U.S. strike could come quickly in response to a new U.N. report on Tuesday that Iraq had broken a month-old promise to cooperate with inspections trying to keep tabs on Iraqi weapons programs. Turning to the junk bond market, a day after retailer, Service Merchandise missed a debt interest payment, the company's 9 percent debentures tumbled 16 points to a 16 bid. Traders said, as recently as early December the bonds were bid as high as 46-3/8, significantly weaker than 77 bid just six months ago. On Tuesday the company said failed to make its $13.5 million interest payment due on its $300 million, 9 percent senior subordinated debentures due 2004. Service Merchandise said it would use a 30-day grace period to evaluate its alternatives. The missed payment triggered a series of credit-rating downgrades and raised concerns of the firm's ability to make an interest payment due next month on another bond issue. ''Obviously, if they're not making the payment on the 9's (issue), then I can't see them making the payment on the 8-3/8's due next month either,'' said one high-yield trader. ''However, if they are able to make the payment on their 9 percent issue after the 30-day grace period is over, then all bets are off.'' The 8-3/8 percent notes due 2001 fell as much as 38 points Wednesday before recouping somewhat to stand 30 points lower on A spokesman for Service Merchandise declined to comment on the steep drop in the company's bonds or the firm's ability to make future payments on its debt. Elsewhere, in the high-grade market, trading remained next to nil as tensions mounted and year-end neared, traders said. Spreads to U.S. Treasuries were quoted unchanged to a touch softer, players said. In other markets, the 30-year benchmark bond ended up 18/32 at 104 bid to yield 4.99 percent, while the Dow ended 32 points lower at 8790.