Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: SIW who wrote (4408)	5/10/1999 2:04:00 PM
From: Jacalyn Deaner	Read Replies (1) \| Respond to of 108040

SWI - thanks for the DD on INNN - I took a position today and am putting this in my "long term hold" portfolio. Thanks again. Jacalyn

To: SIW who wrote (4408)	5/10/1999 2:18:00 PM
From: Tom Allinder	Respond to of 108040

FILM... It's a done deal... exchange2000.com Tom

To: SIW who wrote (4408)	5/10/1999 2:32:00 PM
From: Glenn Petersen	Read Replies (2) \| Respond to of 108040

Regards INNN, it does not appear as if they are getting any significant cash out of their reorganization plan. The $38.4 MM is actually a settlement of old debt and a "substantial portion" of the additional $10.0 MM is going to creditors. Here are the terms of the full settlement: biz.yahoo.com Monday April 26, 12:25 pm Eastern Time Company Press Release Interactive Network, Inc. Completes Settlement Agreement with TCI, Motorola, NBC, and Sprint BELMONT, Calif.--(BUSINESS WIRE)--April 26, 1999--Bruce Bauer, Chairman and CEO of Interactive Network, Inc. (Nasdaq:INNN - news), announced today that on April 22, 1999, the US Bankruptcy Court's order confirming its plan of reorganization had become non-appealable and final. The Company further announced that today, April 26, 1999, the Settlement Agreement with TCI, NBC, Sprint, and Motorola was completed. The results are as follows: -- The $38.4 million in principal and accrued interest of the Company's notes were converted by TCI, NBC, Sprint, and Motorola (noteholders) at $5.00 per share into 7,814,588 shares of Interactive Network, Inc. common stock. -- The return of clear title of Interactive Network's patent portfolio and other assets to the Company. -- The noteholders paid $10 million plus accrued interest to Interactive Network. The Company has allocated a substantial portion to pay its creditors and to form a reserve account for the claims of creditors it is disputing. ------------------------------------------------------------------------ Contact: Interactive Network, Inc., Belmont Bruce W. Bauer, 650/508-8793