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Gold/Mining/Energy : AMBREX..AMBX OTC

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To: northern guy who wrote (80)	10/10/1997 12:44:00 PM
From: BLZBub	of 196

As of Year End (April 30,97) there were 44.5 million shares. Another 5 million were issued subsequent to year end at .10 each. There are also about 3.5 million worth of stock options at .25-.75, and 4 million warrants which expire in November at .60 . So thats about 50 million Share O/S (58 million Fully Diluted). It appears that this company is a lame duck, which may be taken private (i.e. absorbed by SGV) at some point in the future, but who knows what price we will be paid for our shares. The annual meeting will be held in Toronto on October 24. Bill.

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