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Strategies & Market Trends : Due Diligence - How to Investigate a Stock -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (323)	4/26/1999 10:28:00 AM
From: Anaxagoras	Read Replies (1) \| Respond to of 752

<<...but I believe the new Apollo funding ($75 MM) is not floorless and these funds are probably going to be used to remove the $6 MM floorless. >> I agree with you there- I would be pretty darn surprised if the Apollo financing was floorless, OTOH you can bet they'll have their butts covered considering the pathetic shape of the company prior to the financing. There's no guarantee that this financing was particularly "helpful" until we see more, cuz who the heck knows since there's no details released? Makes things easy to hype, though. Your speculation of Apollo retiring the debentures is plausible. BTW, company's counsel did have the foresight to allow a redemption provision (although they made some other no-brainers)- however, it's at 120% premium to face, if I recall correctly. When these issues get redeemed it often indicates what a bunch of boneheads make up management- nice going, fellahs, way to piss away $. All IMHO, Anaxagoras