From RB:
1. Re: the Trust. From what I have heard the trust is still committed to the $20/share price. If you look at the 10-Q, the $100
million investment is part of a $900 million note, which the trust will allow HITT to receive the first $100million from (in the event
that HITT is unable to receive the money they then end up owning the wells, which obviously are producing)
and are able to sell or take the cash flow from.
2. E&Y only withdrew their opinion on the 10-k for '96. The bloomberg release was completely incorrect and misconstrued. Not
to mention '96 is not even necessary (you are correct in that NASDAQ needs only 2 year history)
Speaking with management they are very pleased with their new firm (M., Stevenson, Lovely) Sorry Forget what the M is.
They are the largest firm in Florida, not only auditing the state of Florida, but also resposible for auditing the weekly Lotto there.
All in All, I believe HITT to be in great shape, the company is expanding and growing very rapidly, With the introduction of the
new website at the end of this month Banner ads and sponsorship should continue to grow leaps and bounds, and with the
company applying to leave the OTCBB soon, they will be able receive a more national type of support and exposure. JMO. JB |
