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Microcap & Penny Stocks : ASK: "THE LAST DON" OF MOMENTUM TRADES -- Ignore unavailable to you. Want to Upgrade?

To: Peter C. who wrote (7550)	2/24/1999 6:12:00 PM
From: QuietWon	Read Replies (1) \| Respond to of 15987

ABTEE- 10K is out and Worldcom grabs equity stake via loan !!!!!!! In February 1999, WorldCom advanced the Company $32.0 million for the purposes of arranging the purchase of 2,785 shares, or approximately 78% of the Series B Preferred Stock and the purchase of the outstanding $10.0 million of Senior Subordinated Notes. This advance is due the earlier of (i) October 31, 2000 or (ii) the dates of redemption and/or conversion of the Series B Preferred Stock or the Senior Subordinated Notes. In connection with this advance, the Company expects to recognize an extraordinary loss on the purchase of the Senior Subordinated Notes of approximately $3.3 million and a reduction in the income applicable to common stock of approximately $10.0 million related to the purchase of the Series B Preferred Stock. In addition, the Company agreed to modify the terms of the existing Series B Preferred Stock conversion and warrant agreements which may have a significant effect on the underlying value of these securities and result in a material charge to income applicable to common stock in 1999. WorldCom has also agreed to make available additional advances to the Company of up to $15.0 million against amounts otherwise payable pursuant to the WorldCom Master Services Agreement, which, if advanced, would be due on October 31, 2000. At the date of this filing, the Company has obtained all necessary waivers which cover various defaults under the Company's financing and preferred stock agreements. The Company believes that it has available cash, from operations as well as from the additional advance available from WorldCom described above, sufficient to meet the Company's operating and capital requirements for the next twelve months.