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Subject:  Re: Long-term debt Date:  11/15/2004  6:16 PM
Author:  DMYERS8985 Number:  1457 of 2244

Not quite sure about the definitions of "Senior convertible debt" and "Mandatory convertible debt", but I can give you a quick definition of Long Term (LT) Debt.

I understand LT debt to be debt that is due to be repaid more than one year in the future. Consequently Short Term (ST) Debt would be paid back within one year in the future.

Simple example of the items listed above may be bonds that are to be repaid on 07/01/2007. In my example an amount of the bonds, say $5,000,000 would be considered LT for the Balance Sheet period ends 11/30/2004 - 06/30/2006. On the Balance Sheet date of 07/31/2006 - 06/30/2007 this same $5,000,000 in bonds would be expected to be repaid within one year of the Balance Sheet date therefore would be considered Short Term Debt.

I hope this quick explanation helps your understanding of debt.

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