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To: Zeev Hed who wrote (30032)6/3/1999 9:42:00 PM
From: Fred Thornell  Respond to of 44908
 
Yes it was the Z-MAN



To: Zeev Hed who wrote (30032)6/3/1999 9:52:00 PM
From: The Swordsman  Read Replies (2) | Respond to of 44908
 
RG also stated that so far only $3 MM of the PP was drawn down. He also stated that if positive cash flow would be available, the balance of the pp can bought out (but I presume, only to the extent that the PP's do not convert first, that is my conclusion, not Gordon's remarks).

Zev, It appears that the right to convert to shares or cash lies exclusively with the PP holder..

5. The Company may, at any time and from time to time, prepay all or any portion of the outstanding principal amount of this Debenture and all accrued but unpaid interest thereon upon ten (10) business days' prior written notice to the Holder. The Holder shall be entitled to convert this Debenture at any time prior to the prepayment date set forth in such notice of prepayment

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