Neodata. During August 1997, Electronic Data Systems Corporation ("EDS") offered to purchase all of Neodata Corporation's ("Neodata's") outstanding stock that it did not already own. Hickx Xxxe, the owner of a majority of the Neodata common stock, accepted the offer and the purchase by EDS closed on September 2, 1997. The Fund received $1,427,496 of cash proceeds from the sale of its Neodata stock, resulting in a realized gain of approximately $1.1 million. TWO FIDUCIARY CAPITAL PARTNERS, L.P. MESSAGE TO INVESTORS (CONTINUED) Atlas Environmental In previous reports, we discussed the disappointing performance of this investment. Atlas defaulted on the interest payments due to the Fund and subsequently filed for bankruptcy. Atlax xxx filed a plan of reorganization with the bankruptcy court in an effort to restructure and emerge from bankruptcy. The plan anticipates that many of the interested parties, including the Fund, will contribute additional capital to the company. While the Fund is generally supportive of the plan, there are a number of significant business issues that must be addressed before the Fund will agree to the plan or agree to make a follow-on investment in Atlas. The Fund is also considering the possibility of disposing of its Atlas investment, which has been written down to a nominal amount ($2). AR Accessories AR Accessories Group, Inc. ("ARA") reported significantly reduced earnings and cash flows from operations during 1997. During February 1998, ARA xxxed a crisis manager to assist it in addressing continuing significant declines in the company's sales and profits. The hiring of the crisis manager was precipitated by ARA'x xenders, which notified ARA of defaults under its credit lines and demanded that ARA repay overadvances that were made during 1997. The Fund was notified at that time that ARA was considering a number of options for dealing with its problems, including a possible bankruptcy filing and the sale of the company, or certain of its operations. On March 13, 1998, ARA filed for bankruptcy protection. ARA's assets are being liquidated and it is anticipated that the sales proceeds will be less than ARA's total outstanding debt. The Fund's subordinated debt investment in ARA was prepaid in a prior year. The Fund's only remaining investment in ARA is a common equity position that was acquired in connection with the Fund's original subordinated debt investment. Since it is anticipated that the proceeds that will be realized from the liqu...
Neodata shall rent and designate an adequate number of post office boxes for the Programs and ensure that the boxes are available to receive Orders during the time periods designated by Philxx Xxxrxx.
Neodata shall perform all telemarketing services requested by Philxx Xxxrxx xx connection with the establishment and maintenance of no fewer than (*) national operational *Filed under an application for confidential treatment
13 14 1- 800 toll free telephone numbers for use in connection with the Programs (the "800 Numbers") and ensure that the 800 Numbers are accessible to consumers between the hours of (*) or an alternative time period determined by Philxx Xxxrxx (*) unless otherwise mutually agreed between the parties.
Neodata shall maintain in full working order and operate in a safe and secure manner all equipment and machines required for NEODATA's performance of its obligations under the Agreement, including NEODATA's current IVR system to provide announcements to Callers on hold and all other hardware and software required to further enhance the Programs.
