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To: StockDung who wrote (3818)	10/2/2002 3:37:05 PM
From: Jeffrey S. Mitchell	Read Replies (2) of 12465

In June 2002 RMEC entered into a credit agreement for $40 million with Marathon USA Corporation.... A fee of $100,000 was paid to Marathon and 8,000,000 shares of stock issued to Marathon in contemplation of the closing of the loan. Let me get this straight. RMEC really truly thought $5 per share was a reasonable valuation on their stock (it's now trading at .03)? And, if for some bizarre reason they did, that Marathon was willing to hand over $40MM for a company with total assets of $27,377 (as of 6/30/02)?! And how exactly did RMEC come up with the $100K? Ummm... - Jeff

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