Fax, supposedly from Madera, that was posted on Raging Bull.
Madera Announces Progress Report on Audited Financials For 1998-1999 Fiscal Year and Updates Information On Herbal Products Distribution
CORAL GABLES, Fla., September 7/Newswire/Madera International, Inc. (OTC Bulletin Board: WOOD) - announced today that the company's audited financials which are being consolidated since the end of the fiscal year are again subject to some delays for reason of an impending trip by the newly hired auditing firm to Brazil and Peru where they will visit company auditors, accountants and production sites. This review should be performed within the month of September and the company expects their audited statements to be reported shortly thereafter.
The company also reported that their production and distribution of its new line of herbal supplements, which are 100% natural plant products from the Amazon Rainforest, is moving forward as expected. The company has concentrated on investments in this field due to the potential of the marketing base it has developed in this fast-growing industry. Some of these products, such as Abuta, Copaiba, Iporturo, Brasilian Ginseng, Andiroba, Chuchuhausi, Pata de Vaca and others, are unique to the international market in encapsulated form6
Madera also announced, that the tropical timber products business continues to grow and that the company is now geared to begin production of finished products. Roman Fernandez, President of WOOD and General Manager of Aserradero Itaya S.R.L. the company's fully-owned subsidiary, stated that "after years of researching possible uses for our fall down, generally considered waste, which was normally either burned or sold for packaging or charcoal at very low prices, we now have access to modern machinery that can process this bi-product into primed finished and semi-finished products that now attain a much higher price in the U.S. market, maximizing our usable log yield. Over a period of 6-12 months, the company can expect to sell the final product of our logs to end users with increased earnings per cubic meter, thanks to this new technology4"
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