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Microcap & Penny Stocks : SEDONA Corporation (SDNA)
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To: Uncompaghre who wrote (160)4/4/1997 8:49:00 PM
From: Uncompaghre   of 731
 
I called the transfer agent this morning and the person I talked to was not sure what she was allowed to say so she said nothing and directed me to Dennis Kelly (her contact) at Scangraphics. Mr Kelly told me that the problem with the SEC is not Scangraphic specific and it involves the purchasing of common stock at a discount. He gave me an example that related to the valuation of stocks purchased at a discount that I wasn't able to fully understand so I won't speculate on what I may or may not remember correctly. It doesn't seem to be a problem as they are in talks with the SEC and Mr. Kelly seemed to think it would be settled shortly.

As to earnings, Mr Kelly said they would be out, "hopefully by this time next week."

As to the private financing, Mr Kelly said it has not yet been accomplished but talks are in process and hopefully all that will be done before earnings come out.

Tom
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