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Microcap & Penny Stocks : Sinclare (SNCG) / cyberlinx
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To: WhiteKnight who wrote (2647)10/28/1999 5:20:00 PM
From: Dee Jay   of 2696
 
your words contradict your earlier words (see below).

First, who is "we"?

Did you and your partner in Primm Valley buy the cars for the low value shown in the published interim appraisal and "vend" them into SNCG in exchange for millions in stock, with additional stock to be issued to the lender when you find one to lend at 50% of the appraised value as if "in operation in Las Vegas", i e 50% of $6.4 million?

Is this not a significant event as defined by the Securities and Exchange Act which requires notice to shareholders of record, in full detail? Or do you think you're exempt from the Securities laws as the A L Judge indicated or implied?

Dee Jay

from 10/25 post by WhiteKnight:

The appraised value for highest and best use in Las Vegas is $6.4 million. The assets were exchanged for stock at that price with $3 million as the liability to achieve the appraised value. The net worth, therefore is $3.4 million. This is the amount of shares that will be issued once the $3 million has been raised. To date, no shares of Sinclare have been issued. I am waiting for the financing which is a 50% loan to appraised value. When the $3.2 million loan is funded, I will issue the stock and show the assets and liabilities on the balance sheet of Sinclare. I hope this clarifies your misunderstanding.
Larry Stockett
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