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Gold/Mining/Energy : Nuvo Research Inc

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To: DaveAu who wrote (13602)	9/16/2004 11:52:30 AM
From: Cal Gary	of 14101

Hi BlueJay When looking at revenues year over year, growth is very good. But looking at it quarter over quarter, then revenue growth is flat. So without the Q1 numbers yet, I am guessing Solvay has not contributed yet. Given status quo, I bet Kuhne will not get anything this Nov. IMO, he will have to renegotiate. We have learnt recently that DMX on two occassion has offered to sell WF10 back to him . No cash and no shares based on original agreement. As a shareholder who have been diluted to death I will definitely vote against issuing more shares. I haven't dug it out again, so please double check, but in the recent prospectus, we learn that DMX forgave a large $15mm USD debt owed by OXO. Why? OXO had no cash and plain broke. Next question, why did RK pay so much for OXO?! Have a great day.

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