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Microcap & Penny Stocks : IMMM ( I'm Mad Monk)
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To: per strandberg who wrote (1438)7/13/1997 2:21:00 PM
From: Sidney Reilly   of 1480
 
per,
Welcome back, hope you had a great time. Yes, we still have only questions and no answers. I called my broker (Schwabb) yesterday to see if they had the mandatory exchange done for me. They did not. As the rep was reading off the info they had it came up that they thought the transfer agent was Sterling, that's the old one that IMMM used to use. I told her it was Holladay and gave her the address and phone. She said maybe that would help clear this up. Holladay had not contacted them, only me by letter. I mailed back my form telling them to deal with Schwabb on the exchange. I hope they can call Holladay Monday and get that done.
I hope Petroclos is not just a Swiss bank account for Stamm. If they put up 2.5 million in financing would that be in exchange for stock? If it is then they have really done nothing for NEA and should not have a share in any wells. It seems to me that NEA could pay for the drilling and keep the earnings in that case. If Petroclos is paying part of the drilling out of pocket for no return except the 20% (is 20% correct?) from the well that would be different. Then they would be a "strategic partner" like the press release stated. That would be more like the way things work. Put up some risk capital towards the cost of drilling a well and get large rewards if you find something, zilch if you don't.
Your post sounds like a good "plan of attack" and we should try to act on your ideas as we can and see what we can stir up! Did I just hear PE screaming? Bob (-:
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