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Microcap & Penny Stocks : GBFE - GOLDEN BOOKS FAMILY ENTMT INC -- Ignore unavailable to you. Want to Upgrade?

To: RSkarsten who wrote (70)	1/5/1999 9:20:00 AM
From: molemania	Respond to of 476

"in the shorts, most of these guys were short versus the convertible Topprs, so in their eyes there is no need to cover, unless they want to get fancy, but you will see no buying pressure from the shorts cause it was an easy arbitrage they do not need to unwind." This is from "Joupider" at Yahoo thread, the same fellow who talked about possible dilution. If you haven't already you should look up his past posts under GBFE thread there. He is quite knowledgeable and has some sobering opinions. He says folks are forgetting about the $20 million in interest GBFE is behind on and that the preferred stock or bonds are the way to play this one.

To: RSkarsten who wrote (70)	1/5/1999 9:24:00 AM
From: molemania	Read Replies (2) \| Respond to of 476

"they have defaulted on a substantial payment to the bondholders and have not made payments to the pref'ds, the missed payments to the bonds is an event of default on the bank credit facility, not on the pref'ds. People are losing sight that they owe the bondholders over 20 million, and they will not just go away. I am suggesting we should see a plan filed sometime within the next month or 2, most likely, not definitively, but most likley giving 100% of the comapny to the creditors. I suggest to u in the interim the stock might rise on internet hype, but watch out for the ultimate announcement." I hope he doesn't mind me pasting his posts here but I do believe they are helpful to get a handle on the situation. Dave