THE NEW PNC TELECOM

Hi chippy2,

I don't know how to edit the header, if you can give me instructions then I'll happily change it.

The 7th Duke of Corn,

Yes, my valuation is purely based on objective measurable numbers. I agree that (subjective) sentiment can do strange things for markets in the short term (witness dotcom mania) but over the long term it's the numbers that count and the central number for PNC Telecom is 0.1p - the share price at which the debt for equity swap will take place. Under the terms of the debt for equity swap more than 3.5 times the existing number of shares will be dumped into the market at a price of 0.1p per share. It would be foolish to ignore the impact that such an issue will have on the share price.

regards

JakNife