Energy Prospectus

Lightstream is doing a CBCA "reorganization" that seems to me similar in effect
to the way Swift handled recapitalization. Common shares get crushed.
Negotiations w/ banks ongoing.

http://finance.yahoo.com/news/lightstre ... 00626.html

any reason to hang on to the diluted common??

At 2.5% of the new shares, it looks to me as if common shares turn out, as in the Swift reorg, to be
marginal. I trusted too far into this global slump, wagering that LTS would survive by selling some
turf, as mgt proposed and as Penn West has successfully done. Some shouted warnings would have
been useful. At this point I've decided the tax loss is more valuable to me than any anorexic recovery
of new shares, so I'm letting go.