Message #33 From:
jonesy Date: March 16, 2007 11:33:32 AM
Re: What happned?
Clearly, it was the summary judgment in the Myspace lawsuit. TGLO probably tried to settle, and it became apparent that Myspace was going to play hardball. If you read the 8K, you'd see that the possibility of the convertible bondholders demanding payment will likely make the company insolvent. The bondholders clearly have an incentive to take what they can, since the judgment is more than an order of magnitude larger than what TGLO could possibly pay. So the bondholders will get what they can and leave Myspace with nothing. Goodbye, TGLO.
