To: Joe Waldron (6950 )
From: Douglas Massengill
Tuesday, Oct 21 1997 3:58PM EST
Reply #7021 of 9203
Joe,
I actually spoke to Gary Morgan this morning. Here is what I was told. Keep in mind that I cannot guarantee the veracity of the information, only that it a true account of what he said to me.
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3. The $14 million in investments are, in fact 4 million shares of MVP Holdings. When I mentioned that currently MPVH is selling for about $.35, he told me that, if at one year from the date of the original agreement with PRTI (march 98) the shares were not worth $3.50 per share, then MVPH would have to issue enough shares to bring the worth back up to $14 million. This is where, evidently, MPVH is balking (according to Morgan), because that would essentially give ownership of MVPH to RMIL. (Quite honestly, I am not sure that I understand about MPVH contesting) However, Morgan stated that RMIL has the certificate for the 4 million shares. He even gave me the certificate number.
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