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It is argued that quantum traveling of D-particles presents the ``joining-splitting'' processes of field theory Feynman graphs. The amplitudes in $d$ dimensions can be corresponded with those of a $d+2$ dimensional theory in the Light-Cone frame. It is shown that this Light-Cone formulation enables to study processes with arbitrary longitudinal momentum transfers. It is discussed that a massless sector exists which can be taken as the low energy limit. By taking the constant relative distance in the bound-states we find a spectrum for the intermediatory fields.
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