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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.
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To: Taki who wrote (49877)6/6/2000 12:13:00 PM
From: Taki  Read Replies (1) of 150070
 
NIFI points on the fillings should look at.

At the current time, the Company's sole means to pay for its
overhead operations is its existing cash in the total amount of $1,269 as
of April 30, 2000. Accordingly, the Company has significantly reduced its
overhead. In connection therewith, the Company does not pay any officer
salaries and rent. Its costs primarily include only those costs necessary
to retain its corporate charter, file necessary tax returns and report to
the Securities and Exchange Commission, and certain expenses in seeking
business opportunities.

In addition, as a result of the closing of the Acquisition
Agreement (see Notes to the Financial Statements included elsewhere
herein), the Company is in the process of seeking a business opportunity.
As of the date of this report, the Company is negotiating with certain
parties in connection with acquiring a business opportunity. No
contractual arrangements have been reached and negotiations are still in
progress. No assurance can be given that the Company will be able to
consummate any such arrangements or, if consummated, that such business
opportunity will be successful. Management has indicated that for the
foreseeable future it will cover those costs necessary to retain the
Company's corporate charter, file necessary tax returns, report to the
Securities and Exchange Commission, and cover certain expenses in seeking
business opportunities.
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