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Technology Stocks : WTCH - WATCHOUT ! Inc. - OTC-BB

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To: RICE who wrote ()	12/7/1999 12:15:00 AM
From: Glenn Petersen	Read Replies (2) of 15

I have several questions and observations. What is the source of your information in regard to the float? The November 18, 1999 press release announcing the change of control refers to the fact that the new principals "...acquired a majority interest..." but does not disclose whether or not they acquired existing shares or newly issued shares. This shell has been around the block a few times and I find it hard to believe that the float is only 200,000. Per the Form 10-Q for the period ending September 30, 1999, the company had no assets and liabilities of approximately $2.0 MM. What happened to these liabilities? Are they still outstanding? Have they been settled? Their recent acquisition of a 30% interest in Micromatix.net, announced on December 1, 1999, hardly strikes me as "cutting edge." From the press release: "Micromatix.net locally builds custom configured computers, desktop servers and notebooks using industry standard, branded components for value added resellers. Micromatix.net systems are aggressively priced, and provide superior customer service." Form 10-Q for quarter ending September 30, 1999: sec.gov November 18, 1999 press release: biz.yahoo.com December 1, 1999 press release: biz.yahoo.com

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