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Microcap & Penny Stocks : SPDE (nee CVUS)-- the scammiest Internet stock -- Ignore unavailable to you. Want to Upgrade?

To: Hiram Walker who wrote (35)	4/18/1999 6:11:00 PM
From: Bernard Levy	Read Replies (2) \| Respond to of 114

Hi Hiram: Actually, my impression is that you can hold your short position all the way down to zero unless the person(s) from whom you borrowed the shares need to sell. I believe that the convertible preferred stock issued last year was redeemed after the CVUS spectrum sale to Winstar. However, my recollection is that the redemption was rather costly, so that SPDE has probably very little money left in the till. Finally, you are not totally correct when you indicated on Yahoo that SPDE sold half of its spectrum to WCII. It was more like 70%. The two spectrum pieces left over are highly undesirable: a) one piece is restricted to one-way transmission (I think that this is the piece SPDE is now using). The other piece forms the outer band of the LMDS B block. It could be bought by the B block license holder for around $10M. If I were you, I would not place high hopes on HLIT getting its money back from SPDE. At this stage SPDE's chances of recovery are nil, given the purchase of the CAI Wireless operations by MCI/WCOM. MCI/WCOM will be offering 2-way wireless access with a high level of reliability and impeccable service, and SPDE will offer one-way access with a nightmarish support. Gee, I am wondering who will emerge as the winner of this competition? Best regards, Bernard Levy