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Gold/Mining/Energy : ZENON Environmental

ZEN 77.48

0.0%

Nov 21 4:00 PM EST

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To: Dan Hamilton who wrote (41)	3/12/2000 7:35:00 PM
From: Walter Kraus	Read Replies (1) of 71

Andrew Benedik's statements were basically apologetic in nature. He said he was disappointed in the income results but was pleased with the increase in revenue. When asked by the lady from Cannacord to detail the reasons behind the write-off, the Senior finance person, Mr. Hull, corrected her by saying it was a write-down and not a write-off and that ZEN was still hopeful of some return from their investment. They decided to note it in their statements for cautionary reasons (so as not to tick off analysts/investors like Trojan did?). When asked if there were other "similar" types of issues, Mr. Hull was fairly vague about the details, but did say that there were a bunch of small issues, that when added up, become significant from a financial standpoint. Mr. Hull was unwilling to give more detail. As for the new production facility, they indicated that the second production line was operational, and technically more efficient than the first line. The first line will be re-built to include the improvements developed during the installation of the second line. That's all that I can recall. Regards, Walter

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