REIC SCAM ALERT: PLEASE READ: Sent this to REIC so far...
To Whom it may Concern:
I purchased REIC common stock on 9/17/99 after reading the news concerning the $1.80 buyout offer. The volume on the stock that day was fairly substantial, over 500k. Today, 9/20/99, the volume is only 20k and the trades are nearly all sells. I purchased the stock at .75 and am down a significant amount. I am in contact with others who are in the same situation. We believe the news release was false and misleading, as any stock with a real offer for $1.80 would not selloff to 30 cents the day after. I am contacting a lawyer and the SEC to see how we want to further proceed with this matter, as we feel we have been taken advantage of by your company. We feel the company should be held responsible for our losses stemming from the misleading news release we feel was a ploy by the company so insiders could sell shares into the market.
Sincerely,
xxxxxxxx
Friday September 17, 1:54 pm Eastern Time
Company Press Release
REII Inc. Announces Consideration of $8 Million Offer
NAPLES, Fla.--(BUSINESS WIRE)--Sept. 17, 1999--The board of directors of REII Incorporated (OTC BB:REIC - news) is presently considering an offer of $8 million for the company which equals about $1.80 per share for all the outstanding shares of the company.
REII Incorporated (Formerly BAP Acquisition Corp.) has 20,000,000 shares authorized with 4,655,000 shares outstanding. REII Incorporated is the parent company of Ricketts Enterprises International Inc.
The offer includes all outstanding shares of the company as well as all outstanding debts and agreements, which includes options on 18 income properties, as well as the first refusal of a software company.
The board of directors do not require the approval of the shareholders to accept this offer, however the board of directors have passed a resolution that all shareholders will be notified before a final acceptance.
This offer expires Sept. 25, 1999.
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Contact:
American Venture, Naples
John Dennee, Investor Relations, 716/670-9642 |
