spoke with jc & pc, page-51

Vendor,

this is what you said previously:

"My position remains in that they dont have to announce today or tuesday"

and now:

"What i am saying is depending upon the companies position, (which we dont know) that the company 'MAY NOT' announce today."

Seems to have changed to me, but anyway...

Cg,

"there is no way on earth that an announcement stating that we are insolvent would come pre-open Tuesday, a day after debt due."

I'm not too sure how you came to that conclusion, because there is every way on earth that it could.

Well, in the interest of unity, I'm sure (hope) we all can agree on this following statement:

"US$36 million is due in 1 business day. No arrangement has been made so far."

How you interpret that is up to you, i interpret it as bad, I dont think any healthy company leaves it up to the day before to lock down an arrangement. The only way i can see legally that we dont get an announcement before the market opens tuesday is that they enter into negotiations for dealing with the debt before Mon's due date and havent finished by market open tuesday. Either way, until we get the announcement, no arrangement has been made

good luck people