E-MAIL TO NBMX MANAGEMENT 6th NOVEMBER 99. NO REPLY SO FAR...
Dan Hoyng and Barry Mc Farlane,
I refer to your recent Press Releases (26th and 27th October 1999) projecting very lofty figures for 2000 of some US$127 Millions in Revenue and US$12.9 Millions in Earnings, while meeting only 27% ($1.87 Million) of the target of US$7 Millions for the first Quarter, set on 22nd June 1999 in your Business Plan. I also refer to the disclosure that the outstanding shares of NBMX now stand at 61 Millions, 11 Millions more shares than previously Authorized. This raises the following questions:
1) Have these two PR's been reviewed by an Attorney familiar with SEC's Rules concerning the release of Public Companies projections? I would like, as a shareholder owning 500,000 shares in NBMX (Certificate #2844) obtain a copy of the Attorney's opinion, as to whether or not the incredible loftiness of the projections is likely to attract the attention of the SEC and potentially result in an investigation of the Company.
The reason for my concern: I had a good stock called SFLK. Management put out an over-optimistic PR (nothing as lofty - IMO - as that of NBMX) and they got investigated by SEC, as a result... More than 7 months have elapsed and SEC is still breathing on their necks... The Shorters have been all over the stock and it's gone down from $8.00 to a close of less than $1.00 today... The stock may well be finished, although it had a very good business...
2) Please, explain how the Authorized Capital was legally increased to 61 Millions shares without consulting shareholders or reporting this Material and significant event in an 8K filing to SEC? Also, provide a dispersement of all shares in excess of the 48 Millions, that were last reported in the 10SB.
Mr Eric Fader, the Attorney who oversaw my share purchase advised that to the best of his knowledge, a Nevada Corporation should call an Extraordinary Meeting of all shareholders by sending Notices at least 10 days prior to the date of the Meeting and file an 8K shortly thereafter. I have not received any Notice and neither have the posters on the RB thread, from what I understand. So it would appear that no Meeting was called and no 8K filed, to the best of my knowledge.
Thank you for your prompt attention and cooperation in this matter.
Sincerely,
F. Goelo
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