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What is happening? stock just hit 6 cents, without any news release?
Anyone have a clue? are they coming out of Chapter 11 with some value to commons?
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Rewind,
the charts do not show anymore that the stock was traded at 6 cents. Maybe a slip up or mistake of a small trader? we wil never know.
Keep the hopes up!
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With Worldcom coming out of Chapter 11 with common being wiped out, do we have much chance of getting any value out of MFNX common?
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well, as long as we are not prenounced "dead" we are "alive"
I do not expect anything more than 0-5% stake after dilution (ie. conversion of senior debt into new issued shares).
5% is not a lot but still better than nothing. They have released some news about new deals on the website, so they are still actively in business it seems...
We are in the backseat and we will know soon enough when we have run out of gas!
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They have released some news about new deals on the website, so they are still actively in business it seems...

They are most certainly still in business, as I am one of their customers. Rumors are that they are even cash-flow positive, or very near it. It looks like the business plan is working. I know we are moving our servers out of another company and into MFN because we feel confident in MFN's viability.

Smitty7
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Nope.

-Q
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Fortunately MFNX was (is) small part of my port. However that said, if their is one lesson I learned from the past it is that

- The CEO
- The Gov
- The Exchange Commission

Are all hard at work to get your money

Lets see, GX MFNX Worldcom NT JDSU ENRON AOL(more fallout here yet) .. basically ... the deals made are not to the benefit of the shareholder. We are the guys footing the bill so to speak.

I have learned that basically NO ONE is responcible 9well except for the little guy). No one goes to Jail, has to pay back the money ... options have been left up to the individual company to expence or not to expence ... accounting crap still goes on ... like after items left off the balance sheet we beat buy a penney ... LOL

Incredable how almost everybody has been beeting by a penney yet for 3+ years still economy not healthy ... better yet ... job loss getting worse <gg>

Dont get me wrong ... not bitter <gg>. Just thankfull I learned my lesson at a discount compared to others.

-Q
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