GIFS Message Board - Msg: 813025

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Microcap & Penny Stocks : GIFS

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To: Lee Solomon who wrote (2157)	2/12/1997 11:07:00 PM
From: Michael Beattie	of 8012

Lee - YOU WROTE: What gave you this idea? Michael said: >They have no cash (surplus cash in gold coins?). Their deal for Congress involves >no cash. The $.50/share earnings increase is fictious accounting income. How can you claim "Their deal for Congress involves no cash"? Did this idea just pop into your head or can you substantiate this claim? REPLY: Please read the following quote from the news release: THE TRANSACTION WILL BE STRUCTURED AROUND A FULLY COLLATERALIZED INTERNATIONAL PROMISSORY NOTE, A LONG TERM CONSULTING CONTRACT, AND A INTERNATIONAL SECURITY AGREEMENT BONDED BY A MAJOR EUROPEAN CARRIER. THE PARTIES HAVE ENTERED INTO A COMMITMENT TO CLOSE THE TRANSACTION WITHIN 45 DAYS. What does any of that really mean? I can't tell for sure. But it does not say $117 million in stock and cash. It is $117 million of VALUATION of 1) a Fully...blah.blah.blah promissory note (that could be cash sometime) 2) a consulting contract (between whom?) and 3) a security agreement bonded by ....etc. (I don't know what that is either). If this deal had any value, someone would be paying something that had value for something that has value. I am not trying to stir up trouble. I just want everyone to look at the facts. MB

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