NCVM Nova Communications
3830 DEL AMO BLVD.
TORRANCE, CA 90503
(310) 642-0200
Murray Goldenberg, Pres./CEO/Secy./Treas.
13,496,182 shares outstanding at March 31, 2000
Yahoo says float is 9.3MM
biz.yahoo.com
Paid in capital $9,760,654
Retained deficit ($10,833,189)
-June 19, 2000--Nova Communications Ltd. (OTCBB:NCVM - news), today announced that it has entered into a letter of intent to acquire 80% of Communications 2000 in an agreement in which Nova will acquire 80% of the outstanding shares of common stock of Communications 2000.
tec-networks.com
" Nova will continue to support its investments in And Justice For All and the real estate developments in Biloxi, Miss., while pursuing its ongoing efforts to develop the communications business."
From the last filing, March 31/2000
Gulf Coast Hotels, Inc. Common stock (private co.) 1,875
Gulf Coast Hotels - In 1994 Gulf Coast Hotels (a non-public Mississippi corporation) acquired the rights to approximately 1.4 acres in Biloxi, Mississippi, for the purpose of developing a high-rise condominium on the site.
Negotiations began approximately two years ago for the transfer of these rights to a development group in exchange for cash plus a minority interest in the group. Although tentative agreement has been reached several times, there have been various obstacles including water rights, sewer limitations, and undisclosed liens against the property, which have prevented closing the deal. Due to the uncertainties involved, the investment was fully reserved in 1997 by a charge to unrealized losses. Management believes that eventually the project will go forward and continues to support resolution of the obstacles.
And Justice For All, Inc.(Legal Club) Common stock 362,500
OTC:BB LEGL
finance.yahoo.com
legalclub.com
And Justice For All (Legal Club)- During 1996 and 1997, the Company acquired 650,000 shares of common stock of the Legal Club, a nationwide membership organization providing access to attorney services at discounted rates. During 1998 the Legal Club became a public company trading over-the-counter. The Legal Club shares owned by the Company were issued pursuant to Rule 144 and became "free trading" on April 19, 2000. Bid and ask prices for Legal Club common stock are available. Accordingly, the Company valued its Legal Club investment based upon management's appraisal. On June 7, 1999, the Company paid out 250,000 shares of its Legal Club common stock as a loan fee, and assigned 337,500 shares and pledged an additional 25,000 shares of Legal Club common
stock as collateral for a loan and legal fees. The loan agreement provides for an "orderly liquidation" of the Legal Club shares held as collateral commencing December 1999 to repay the loan. |
