Tech101

XO Holdings: Raise Morale and Open Communications

It would be greatly appreciated if you point why, line by line if you could.

XO Holdings: Raise Morale and Open Communications

Mr. Carl Icahn could try to force XO to bankruptcy by the financial covenants of the Credit Facility he owns for 10 times. But at the end of each quarter in the past two and half years, he waived his right and extended the Credit Facility.

Now the financial covenants were removed based on the Final Judgment and Order on April 4, 2008: “the waiver, through the due date of July 15, 2009, of any breach of the financial covenants in Section 6.6 of the Credit Facility, including the EBITDA (as defined in the Credit Facility) and unrestricted cash balance covenants. Waiver of the EBITDA and unrestricted cash balance covenants in the Credit Facility will eliminate concerns that the debt outstanding under the Credit Facility could be accelerated prior to its maturity as a result of non-compliance with such covenants.”

sec.gov/Archives/edgar...

Perhaps, we could also say that TWTC has not done yet.

XO Holdings: Raise Morale and Open Communications

Another possibility for the error could be that more than one stock (XOHO) is covered in this article.

That could cause the confusion on SeekingAlpha's handling. At least, I thought I checked the box "long".

XO Holdings: Raise Morale and Open Communications

I have been long XOHO for more than a year, and I am still long. It should be my mistake if not Seekingalpha's.

Thank you for your correction and I apologyze for any possible misleading.