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Microcap & Penny Stocks : IDMC Waste disposal or just garbage?
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To: SIer formerly known as Joe B. who wrote (388)1/14/1998 8:37:00 PM
From: SIer formerly known as Joe B.   of 972
 
Here we go:
sec.gov
Lowlights:
Possible Issuance of Substantial Amounts of Additional Shares Without Shareholder Approval.



The
Company presently leases its principal facilities from a partnership controlled
by Messrs. Freedman and Falco and, in 1995, performed certain construction work
to expand such facilities. Additionally, the Company previously loaned funds to
such partnership in order to construct certain leasehold improvements on the

9
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Company's premises and for various other purposes. While the loan to the
partnership had been repaid in full through periodic offsets against the lease
payments owed by the Company to the partnership, no formal terms for repayment
of such loan were ever established and no interest was paid on such loan.
Further, while the Company obtained an appraisal of the fair rental value of the
leased premises and management believes the terms of such lease to be fair,
there is no assurance that the Company could not obtain more favorable terms if
dealing with third parties.

Possible Issuance of Preferred Stock and Superior Rights of Preferred Stock.
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