Subj: CHAP's Trading Status
Date: 10/22/99 12:47:33 PM Eastern Daylight Time
From: InfoCHAP
Dear Investor:
Trading Status Update - October
The ticker symbol for the stock (OTC BB: CHAP) was changed early last month to CHAPE to reflect a delinquent notification for the filing requirement of Chartwell's audit and annual report, Form 10SB. The "E" stays on for 30 days, and then either the "E" is dropped, or the listing is moved from the OTC bulletin board. This is done to warn investors as to the status of this matter in the stocks that they invest in.
Chartwell completed their audit, and the full documentation (called a Form 10SB) in September and it was submitted to the SEC. But, because of the log jam of reviews that the SEC is currently faced with, they have not yet approved the filing. Until they can get to it, Chartwell stock will continue to trade (as it has since Oct. 8th) on the OTC pink sheets. Hopefully this inconvenience will not remain too much longer.
As for a return to $ .08 a share, it is Jim Stock's belief that we can achieve this with enough new people learning about the strong asset valuation of the company. In the coming weeks, Stock Enterprises will share the Chartwell investment opportunity with hundreds of new potential investors, although the awareness effort will not begin in earnest until the stock returns to the OTC BB due to the difficulty most people have to buy pink sheet listed securities.
We hope you can remain patient and thank you for your loyalty. The company's management is determined to improve shareholder value and create a much stronger company in the future through acquisitions.
For more information, feel free to contact Jim Stock of STOCK ENTERPRISES at Tel.702-614-0003 or myself.
Regards,
Serena Riedel
Director of Investor Relations
Chartwell International, Inc.
(OTC BB: CHAPE)
Tel. 717-786-7537
Fax 717-786-7398 |
