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Technology Stocks : BIFS ... Patented Environmental Cleanup and Low Float Co.

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To: scion who wrote (303)3/31/2001 4:11:28 PM
From: scion  Read Replies (1) of 381
 
NOTE I - PREPAID SALES COMMISSIONS

In September 2000, advances against sales commissions to a related company,
amounting to $575,910, were repaid in cash by the related company.

NOTE J - SUBSEQUENT EVENT

Subsequent to September 30, 2000, the Company's majority shareholder loaned
$500,000 to the Company's subsidiary, Beach Access.Net, Inc. Proposed terms of
the loan provide for interest at 11.0%, payable monthly, with the entire
principal balance due in October 2002.

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